CHICAGO--(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.
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.