MAVERIX ANNOUNCES RECORD GOLD EQUIVALENT OUNCES FOR 2021 AND DECLARES QUARTERLY DIVIDEND

Rhea-AI Summary

Maverix Metals Inc. (NYSE: MMX) announced record attributable gold equivalent ounces (GEOs) of approximately 9,000 in Q4 2021 and over 32,000 GEOs for the full year, exceeding its revised guidance of 31,000 GEOs. CEO Dan O'Flaherty highlighted successful portfolio expansion through three accretive transactions, aiding cash flow. Additionally, the Board approved a quarterly cash dividend of $0.0125 per share, payable on March 15, 2022, to shareholders of record by February 28, 2022. This dividend is regarded as an eligible dividend under Canadian tax laws.

Positive

• Record attributable GEOs of over 32,000 in 2021, exceeding guidance.
• Successful expansion of asset portfolio through three transactions.
• Quarterly cash dividend of $0.0125 per share approved.

Negative

• None.

All amounts are in U.S. dollars unless otherwise indicated.

VANCOUVER, BC, Feb. 15, 2022 /PRNewswire/ - Maverix Metals Inc. ("Maverix" or the "Company") (NYSE: MMX) (TSX: MMX) is pleased to announce record attributable gold equivalent ounces¹ ("GEOs") of approximately 9,000 in the fourth quarter of 2021 and a record of over 32,000 GEOs¹ for the full year 2021, exceeding annual guidance of 31,000 GEOs¹, which was increased in November 2021 from the original range of 27,000 to 30,000 GEOs¹.

Dan O'Flaherty, CEO of Maverix, commented, "Maverix had another successful year in 2021, recording over 32,000 attributable GEOs¹, which exceeded our guidance and established a new Company record, for the fifth consecutive year. In 2021, we also continued to expand our asset portfolio by completing three accretive transactions that added significant and immediate cash flow to Maverix. We look forward to building on this performance in 2022 given the organic growth from our existing portfolio, as well as from our active pipeline of royalty and stream acquisition opportunities."

Mr. O'Flaherty continued, "I would also like to take this opportunity to congratulate the team at Orla on successfully completing the construction of the Camino Rojo mine and achieving its first gold pour." Maverix holds a 2% NSR royalty on production from oxide and transitional ores from Camino Rojo.

Dividend

The Company is also pleased to announce that its Board of Directors has approved the payment of the quarterly cash dividend of $0.0125 per common share. The dividend will be paid on or about March 15, 2022, to shareholders of record as of the close of business on February 28, 2022.

This dividend is designated as an "eligible dividend" for the purposes of the Income Tax Act (Canada). Dividends paid by Maverix to shareholders outside Canada (non-resident investors) will be subject to Canadian non-resident withholding taxes. The declaration, timing, amount and payment of future dividends remains at the discretion of Maverix's Board of Directors.

1 Please refer to the Non-IFRS Measures section at the end of this press release.

About Maverix

Maverix is a gold-focused royalty and streaming company with a globally diversified portfolio of over 100 assets. Maverix's mission is to increase per share value by acquiring precious metals royalties and streams. Its shares trade on both the NYSE American and the TSX under the symbol "MMX".

For further information, please go to our website at www.maverixmetals.com 

Cautionary statements to U.S. investors

Information contained or referenced in this press release or in the documents referenced herein concerning the properties, technical information and operations of Maverix has been prepared in accordance with requirements and standards under Canadian securities laws, which differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") under subpart 1300 of Regulation S-K ("S-K 1300"). The terms "mineral resource" and "inferred mineral resource" used in this press release or in the documents incorporated by reference herein are mining terms as defined in accordance with NI 43-101 under guidelines set out in the Definition Standards for Mineral Resources and Mineral Reserves adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council. While the terms are substantially similar to the same terms defined under S-K 1300 there are differences in the definitions.  Accordingly, there is no assurance any mineral resources that the Company may report under NI 43-101 will be the same as resource estimates prepared under the standards adopted under S-K 1300.  Because the Company is eligible for the Multijurisdictional Disclosure System adopted by the SEC and Canadian Securities Administrators, the Company is not required to present disclosure regarding its mineral properties in compliance with S-K 1300. Accordingly, certain information contained in this press release concerning descriptions of mineralization and mineral resources under these standards may not be comparable to similar information made public by US companies subject to reporting and disclosure requirements of the SEC.

Non-IRFS Measures

Maverix has included certain performance measures in this news release that do not have any standardized meaning prescribed by International Financial Reporting Standards ("IFRS"). The Company's royalty revenue and silver sales are converted to a GEO basis by dividing the royalty revenue and silver sales for a period by the average gold price based on the LBMA Gold Price PM Fix per ounce for the same respective period. These GEOs when combined with the gold ounces sold from the Company's gold streams equal total GEOs sold. The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate this non-IFRS measure differently. Maverix's business, operations, financial condition, and financial outlook could be materially adversely affected by the continued impact of the COVID-19 global health pandemic. At this time, Maverix cannot reasonably estimate the duration of any potential business disruptions, impact to underlying operations that Maverix holds an interest in or any related financial impact that is related to or caused by COVID-19.

Cautionary note regarding forward-looking statements

This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, the payment of the dividend, developments in respect of Maverix's portfolio of royalties and streams and those developments at certain of the mines, projects or properties that underlie the Company's interests. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which Maverix will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Maverix; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises, including the current outbreak of the novel coronavirus known as COVID-19 on Maverix's business, operations and financial condition, loss of key employees, as well as those risk factors discussed in the section entitled "Risk Factors" in Maverix's annual information form dated March 23, 2021 available at www.sedar.com. Maverix has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Maverix undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.

Technical and third-party information

The disclosure herein and relating to properties and operations on the properties in which Maverix holds royalty, stream or other interests is based on information publicly disclosed by the owners or operators of these properties and information/data available in the public domain as at the date hereof, and none of this information has been independently verified by Maverix. Specifically, as a royalty or stream holder, Maverix has limited, if any, access to properties included in its asset portfolio. Additionally, Maverix may from time to time receive operating information from the owners and operators of the properties, which it is not permitted to disclose to the public. Maverix is dependent on, (i) the operators of the properties and their qualified persons to provide information to Maverix, or (ii) on publicly available information to prepare disclosure pertaining to properties and operations on the properties on which Maverix holds royalty, stream or other interests, and generally has limited or no ability to independently verify such information. Although Maverix does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate. Some information publicly reported by operators may relate to a larger property than the area covered by Maverix's royalty, stream or other interest. Maverix's royalty, stream or other interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources, and production of a property.

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SOURCE Maverix Metals Inc.

FAQ

What is the record GEOs reported by Maverix Metals for 2021?

Maverix Metals reported over 32,000 attributable gold equivalent ounces (GEOs) for the full year 2021.

When will the dividend be paid by Maverix Metals?

The quarterly cash dividend of $0.0125 per share will be paid on or about March 15, 2022.

What is the amount of the dividend declared by Maverix Metals?

Maverix Metals declared a quarterly cash dividend of $0.0125 per common share.

Who is eligible for the dividend payment from Maverix Metals?

Shareholders of record as of the close of business on February 28, 2022, are eligible for the dividend payment.