Nova Royalty Corp. - NOVRF STOCK NEWS

Welcome to our dedicated page for Nova Royalty news (Ticker: NOVRF), a resource for investors and traders seeking the latest updates and insights on Nova Royalty stock.

Metalla Royalty & Streaming Ltd. and Nova Royalty Corp. completed an arrangement where Metalla acquired all issued and outstanding shares of Nova. Shareholders received Metalla shares in exchange, and the Nova shares will be delisted. This transaction positions the combined entity as a leading intermediate royalty company in the mining sector.

The companies have ensured that the terms of the arrangement are beneficial for both sets of shareholders. Nova's options and restricted share units have been dealt with appropriately, and Beedie Capital's investment and related transactions have been completed successfully.

Both Metalla and Nova have focused on maintaining transparency, fulfilling legal requirements, and ensuring smooth transitions for their respective shareholders. The completion of this arrangement marks a significant milestone for both companies and sets the stage for continued growth and success in the future.

12/01/2023 03:51 PM

News

METALLA AND NOVA ANNOUNCE COMPLETION OF ARRANGEMENT

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Metalla Royalty & Streaming Ltd. (MTA) and Nova Royalty Corp. (NOVR) have completed an arrangement, with Metalla acquiring all of the issued and outstanding common shares of Nova, positioning the combined company as a leading emerging intermediate royalty company. Each former shareholder of Nova received 0.36 of a common share of Metalla for each Nova Share held. The Nova Shares will be de-listed from the TSX Venture Exchange.

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METALLA AND NOVA COMBINE TO BUILD THE NEXT INTERMEDIATE ROYALTY COMPANY

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Metalla and Nova announce strategic partnership, combining portfolios and positioning the combined company as a leading emerging intermediate royalty company. Transaction expected to have industry-leading growth with a portfolio of 105 royalties and streams. Strategic partner Beedie Capital to commit to an equity investment of C$15 million and increase Metalla's existing convertible loan facility to C$50 million. Immediate increase in cash flow from producing royalties. Annual cost savings estimated to be $2.5 million. Potential inclusion in clean metals/energy transition ETFs and Mutual funds. Accretive on a NAV-per-share basis. Nova shareholders to receive immediate upfront premium of 25-32% and retain approximately 40% ownership in the combined company. Metalla shareholders to gain exposure to generational copper royalties and increased cash flow. Beedie Capital to subscribe for C$15 million in equity placement of Metalla and increase convertible loan agreement.

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Nova Royalty to Webcast Live at VirtualInvestorConferences.com March 30th @ 11AM ET

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Nova Royalty (TSXV: NOVR, OTCQB: NOVRF), based in Vancouver, Canada, announces that President and CEO Alex Tsukernik will present live at VirtualInvestorConferences.com on March 30 at 11am ET. This interactive online event allows investors to ask questions in real-time, with an archived webcast available post-event. Investors are encouraged to pre-register and perform a system check for smooth participation. Nova Royalty focuses on copper and nickel royalties, aiming to support the energy transition through multiple world-class assets.

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FAQ

What is the market cap of Nova Royalty (NOVRF)?

The market cap of Nova Royalty (NOVRF) is approximately 102.5M.

What was the recent arrangement between Metalla Royalty & Streaming Ltd. and Nova Royalty Corp.?

Metalla acquired all issued and outstanding shares of Nova through a court-approved plan of arrangement under the Business Corporations Act (British Columbia), positioning the combined entity as a leading intermediate royalty company.

How were Nova shareholders impacted by the arrangement with Metalla?

Nova shareholders received 0.36 of a common share of Metalla for each Nova share held, and the Nova shares are expected to be delisted from the TSX Venture Exchange.

What happened to Nova's options and restricted share units as a result of the arrangement?

Nova's options became vested and exchanged for replacement options exercisable for Metalla shares. Nova's restricted share units were deemed fully vested and settled in Nova shares, which participated in the arrangement.

How did the completion of the arrangement impact Beedie Capital's investment and related transactions?

Beedie Capital's subscription receipt financing converted into Metalla shares, and a second amended and restated convertible loan agreement with Metalla has been completed successfully.

What steps were taken by Metalla and Nova to ensure a smooth transition for their shareholders during the arrangement?

The companies focused on transparency, legal compliance, and ensuring the best interests of their shareholders throughout the arrangement process, marking a significant milestone for both entities.