VANCOUVER, April 23, 2019 /CNW/ - Maverix Metals Inc.
(the "Company" or "Maverix") (TSX-V: MMX) is proposing a
consolidation of its issued and outstanding common shares (the
"Common Shares") on the basis of one (1) post-consolidation Common
Share for every two (2) pre-consolidation Common Shares (the
"Consolidation").
"A consolidation would allow Maverix to pursue a dual listing on
a U.S. stock exchange, which is consistent with our strategy of
expanding our potential shareholder base", said President and CEO
Dan O'Flaherty. "This would be an
exciting step in the growth of the Company."
The Company currently has 215,896,666 issued and outstanding
Common Shares. If approved at the Company's upcoming Annual General
and Special Meeting of Shareholders (the "AGM"), the Consolidation
would reduce the issued and outstanding Common Shares to
approximately 107,948,333 Common Shares. The exercise or conversion
price of outstanding stock options and warrants would be
proportionately adjusted based on the consolidation ratio. The
proposed Consolidation is also subject to approval by the TSX
Venture Exchange.
Full details regarding the proposed Consolidation are included
in the information circular mailed on April
23, 2019 to all Maverix shareholders of record as of
April 4, 2019 and posted on
www.sedar.com in connection with the Company's AGM, which is
scheduled to be held on Tuesday, May 14,
2019. No assurances can be given that the Company will be
successful in achieving a listing of its securities on a U.S.
exchange.
About Maverix
Maverix is a gold royalty and streaming company. Maverix's
mission is to provide its shareholders with significant low risk
leverage to precious metal prices 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 completion of a
consolidation of the Company's common shares, the Company
successfully listing on a U.S. stock exchange, the Company's
financial guidance, outlook, proposed plans for acquiring
additional stream and royalty interests and the potential of such
streams and royalty interests to provide returns and the completion
of mine expansion under construction phases at the mines or
properties that the Company holds an interest in. 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.
