JOHANNESBURG (miningweekly.com) – TSX-listed Maverix Metals on Tuesday announced that it had agreed to acquire a portfolio of 11 existing producing and nonproducing royalties from JSE-listed Gold Fields in return for 42.85-million common shares and 10-million common share purchase warrants of Maverix.
"This transaction is an exceptional growth step for Maverix. Our shareholders should benefit from the immediate meaningful increase in annual cash flow, the increase in scale, and the geographic and counterparty diversification,” said Maverix chairperson Geoff Burns.
He added that the company’s longer-term access to capital markets, liquidity and market profile should all be significantly enhanced.
On completion of the transaction Gold Fields will own 32% of Maverix Metals’ issued and outstanding common shares.