Coeur Provides Update on Ownership Position in Metalla
September 25 2019 - 4:30PM
Business Wire
As required by Canadian securities law, Coeur Mining, Inc.
(“Coeur” or the “Company”) (NYSE: CDE) is providing an update on
its ownership position in Metalla Royalty & Streaming Ltd.
(“Metalla”) (TSXV: MTA) (OTCQB: MTAFF). In a series of open market
transactions through the Canadian Securities Exchange and private
sales (collectively, the “Transactions”), the Company sold
2,811,000 common shares of Metalla at an average price of C$1.09
per share between April 25, 2019 and September 24, 2019 for
approximately C$3.1 million. The Transactions represented more than
two percent of the issued and outstanding common shares of Metalla,
requiring public disclosure in accordance with Canadian securities
laws.
As reported in Coeur’s prior early warning report, on July 31,
2017, Coeur acquired 14,546,597 common shares of Metalla as well as
a convertible debenture that would automatically convert upon
future financings made by Metalla, maintaining the Company’s 19.9%
interest in Metalla. Coeur acquired the securities in connection
with a transaction to monetize the Company’s non-core royalty and
streaming assets. Since that time, Coeur has acquired common shares
of Metalla to maintain its proportionate interest. The weighted
average price at which Coeur has acquired its stake in Metalla is
approximately C$0.64 per share.
Prior to the first transaction on April 25, 2019, Coeur owned
23,776,241 common shares of Metalla, or approximately 19.9% of its
issued and outstanding common shares. Following the Transactions,
Coeur now owns 20,965,241 common shares of Metalla, or
approximately 15.9% of its issued and outstanding common shares.
Depending on market and other conditions, Coeur may, from time to
time, increase or decrease its ownership, control or direction over
the common shares and/or other securities of Metalla.
A copy of Coeur’s early warning report with respect to the sale
of the Shares will be publicly available on SEDAR.
For more information about Metalla, please see their website at
www.metallaroyalty.com.
About Coeur
Coeur Mining, Inc. is a U.S.-based, well-diversified, growing
precious metals producer with five wholly-owned operations: the
Palmarejo gold-silver complex in Mexico, the Rochester silver-gold
mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold
mine in South Dakota, and the Silvertip silver-zinc-lead mine in
British Columbia. In addition, the Company has interests in several
precious metals exploration projects throughout North America.
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For Additional Information Coeur Mining, Inc. 104 S.
Michigan Avenue, Suite 900 Chicago, Illinois 60603 Attention: Paul
DePartout, Director, Investor Relations Phone: (312) 489-5800
www.coeur.com
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