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Triple Flag Precious Metals Corp. has successfully completed the acquisition of Maverix Metals Inc. through a plan of arrangement under the Canada Business Corporations Act. The transaction involved issuing 45.1 million shares and paying US$86.7 million to Maverix shareholders. Post-acquisition, Triple Flag shareholders will hold approximately 78% of the combined entity. Maverix's shares will be delisted from relevant exchanges. This acquisition positions Triple Flag as the fourth-largest senior streaming and royalty company, enhancing its portfolio with 148 royalties and streams, boosting NAV and cash flow, and expanding its presence in mining-friendly jurisdictions.
Triple Flag Precious Metals Corp. has successfully acquired Maverix Metals Inc. through a plan of arrangement under the Canada Business Corporations Act. This transaction involves the issuance of 45.1 million common shares and a cash payment of US$86.7 million to Maverix shareholders. Following the acquisition, Maverix's shares will be delisted from the Toronto Stock Exchange and NYSE American. The combined entity will enhance Triple Flag's portfolio, making it the fourth-largest senior streaming and royalty company, with increased net asset value and diversification. Shaun Usmar, CEO, expressed strong support from Maverix shareholders, with 98.4% approving the deal.
Maverix Metals Inc. (MMX) announced that the Ontario Superior Court of Justice has granted final approval for its acquisition by Triple Flag Precious Metals Corp. The arrangement, set to close by January 19, 2023, allows Maverix shareholders to receive either US$3.92 in cash or 0.360 shares of Triple Flag for each Maverix share held. By the election deadline of January 11, 2023, approximately 26% of shares opted for cash, while 74% will default to share consideration. Following the acquisition, Maverix plans to delist from the Toronto and New York Stock Exchanges.
Maverix Metals Inc. (NYSE American: MMX) announced the results of its special meeting of shareholders held on January 12, 2023. An overwhelming 98.378% approved the acquisition by Triple Flag Precious Metals Corp. under a plan of arrangement. The Canadian Competition Bureau issued a "no action" letter clearing the deal, and the waiting period for U.S. antitrust review has expired. Shareholders were offered US$3.92 in cash or 0.360 of a Triple Flag share per share held. Approximately 26% chose cash, and 74% defaulted to shares. The arrangement's completion is pending court approval, expected by the end of January 2023.
Maverix Metals Inc. (NYSE: MMX) has extended the deadline for shareholders to choose between receiving either cash or shares as part of its Arrangement with Triple Flag Precious Metals Corp. The new Election Deadline is set for January 11, 2023, at 5:00 p.m. Toronto time. Shareholders can opt for US$3.92 in cash or 0.360 of a common share of Triple Flag for each Maverix share. The cash consideration is limited to 15% of total consideration, while shares are capped at 85%. A Special Meeting for shareholder voting will occur on January 12, 2023.
Maverix Metals Inc. (NYSE: MMX) will hold a Special Meeting on January 12, 2023, to vote on a proposed arrangement where Triple Flag Precious Metals Corp. will acquire all outstanding shares of Maverix. Shareholders as of December 2, 2022, can participate. The Arrangement requires at least 66 2/3% approval from voting shareholders and a simple majority as per Multilateral Instrument 61-101. Final completion is contingent upon Court approval and other customary conditions. Maverix is a gold-focused royalty and streaming company with over 140 assets.
Maverix Metals Inc. (NYSE: MMX) announced that the Ontario Superior Court has granted an interim order for the proposed acquisition by Triple Flag Precious Metals Corp. This statutory plan of arrangement, under the Canada Business Corporations Act, will allow Triple Flag to acquire all common shares of Maverix. A special meeting for Maverix shareholders is scheduled for January 12, 2023, to discuss this arrangement. Proxy materials will be distributed and available on SEDAR and EDGAR. Maverix focuses on precious metals royalties and has over 140 assets globally.
Maverix Metals reported strong Q3 2022 results with 9,567 gold equivalent ounces sold, generating $16.3 million in revenue and $9.5 million in operating cash flow. The company declared a quarterly dividend of $0.0125 per share, payable on December 15, 2022. Following a merger agreement with Triple Flag, Maverix shareholders can choose $3.92 in cash or 0.360 Triple Flag shares per share. Adjusted net income rose to $5.0 million, reflecting a healthy cash operating margin of $1,534 per ounce. Despite positive operational updates, uncertainties related to Omolon persist.
Triple Flag Precious Metals Corp. (TFPM) will acquire Maverix Metals Inc. (MMX) in a strategic merger to enhance its portfolio of gold and silver streams and royalties. The deal aims to create a leading senior streaming and royalty company with 29 paying assets and a total of 228 assets. The transaction, valued at
Triple Flag Precious Metals and Maverix Metals announced a definitive agreement for Triple Flag to acquire all common shares of Maverix in a strategic combination aimed at creating a leading senior streaming and royalty company. The transaction will merge their complementary portfolios, increasing scale with 29 paying assets and generating tangible annual synergies of approximately $7 million. The deal offers Maverix shareholders a choice between $3.92 in cash or 0.360 shares of Triple Flag. Total equity value for Maverix is estimated at $606 million.
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