Maverix Metals (NYSE & TSX: MMX) announced Thursday that is has completed the previously announced acquisition of a portfolio of over 20 precious metals royalties from Kinross Gold (TSE: K).
As consideration for the Transaction, Maverix has issued 11.2 million common shares and made a cash payment of $25 million to Kinross.
The transaction grants gold-focused Maverix access to output from Integra Resources’ DeLamar project in Idaho, Polymetal’s Omolon Hub operations in Russia, Barrick Gold and Newmont Goldcorp’s Cerro Casale project in Chile, Premier Gold Mines’ McCoy Cove project in Nevada, Agnico Eagle’s Hammond Reef project in Ontario, and a number of early stage development and exploration projects.
Maverix will now have a total of 119.5 million common shares issued and outstanding, of which Newmont Goldcorp Corporation, Pan American Silver Corp and Kinross hold approximately 25.1%, 23.1% and 9.4% respectively.