VANCOUVER, June 21, 2018 /CNW/ - Maverix Metals Inc.
(the "Company" or "Maverix") (TSX-V: MMX) is pleased
to announce it has entered into a revolving credit agreement with
Canadian Imperial Bank of Commerce ("CIBC") and National
Bank Financial ("NBF") which allows the Company to borrow up
to US$50 million (the "Revolving
Facility" or "Facility"). The Revolving Facility has a
term of three years, which is extendable through mutual agreement
between Maverix, CIBC, and NBF. Maverix intends to use the Facility
for future royalty or stream acquisitions and general corporate
purposes.
Depending on the Company's leverage ratio, the amounts drawn on
the Facility are subject to interest at LIBOR plus 2.50% - 4.00%
per annum, and the undrawn portion is subject to a standby fee of
0.56% - 0.90% per annum.
Dan O'Flaherty, President and CEO
of Maverix, commented, "We are pleased to be working with CIBC and
NBF and appreciate the support and confidence they have shown in
our business model. The expected increase in our operating cash
flows, coupled with this facility, should provide Maverix with
greater financial flexibility and capacity to continue to grow our
precious metals royalty and streaming portfolio."
About Maverix
Maverix Metals Inc. is a gold royalty and streaming company.
Maverix's mission is to provide its shareholders with significant
low risk leverage to the gold price and to increase underlying per
share value by expanding its portfolio with acquisitions of
high-quality royalties and streams that offer robust returns.
NEITHER THE TSX VENTURE EXCHANGE ("TSX-V") NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
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, statements with respect to the Company's outlook,
proposed plans for acquiring additional stream and royalty
interests and the potential of such streams and royalty interests
to provide returns. 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, loss
of key employees and other related risks and uncertainties. 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. No forward-looking statement can
be guaranteed and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information.
SOURCE Maverix Metals Inc.
