On August 16, 2019 Maverix Metals completed its acquisition of an additional net smelter returns (NSR) royalty on TMAC Resources Inc’s Hope Bay Gold Mine in Nunavut. Maverix Metals purchased an additional 1.5% NSR royalty (for a combined 2.5% NSR royalty) on the Hope Bay Gold Mine for US$40 million and subscribed for US$3 million worth of common shares in TMAC Resources Inc at a price of C$6.00 per share. Maverix is also entitled to receive an additional 0.25% NSR royalty until certain conditions are satisfied.
Maverix Metals is a gold royalty and streaming company, whose mission is to provide its shareholders with significant low risk leverage to precious metal prices and to increase underlying per share value by continuing to grow its portfolio with acquisitions of high-quality royalties and streams that offer robust returns.
Osler advised Maverix Metals with a team consisting of Alan Hutchison and Patrick Sullivan (Corporate), Martha Martindale (Financial Services) and Ian Morrison (Articling Student).