Metalla acquires royalty on St. Barbara Ltd.'s Fifteen Mile Stream project

1 minute read
16 August 2019


On Aug. 16, 2019, Metalla Royalty & Streaming Ltd. (TSXV: MTA) (OTCQB: MTAFF) announced that it had completed the closing on its previously announced acquisition of a 3.0% NSR royalty on St. Barbara Ltd.'s Fifteen Mile Stream project in Nova Scotia from $2 million from a third party, in accordance with a purchase and sale agreement.

As consideration for the transaction, Metalla made an upfront payment of $0.5 million in cash, with an additional payment of up to $1.5 million upon the exercise of the royalty payor's buy-back right to purchase two-thirds of the 3.0% NSR royalty for a period of five years.

Gowling WLG advised Metalla with respect to this acquisition with a team that included Denis Silva and Jill Dunn.

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