Maverix Metals draws on revolver for royalty acquisition from Kinross

Chicago, Dec. 19 – Maverix Metals Inc. used cash on hand and drew on its revolving credit facility for the cash portion of its acquisition of a portfolio of over 20 precious metal royalties from Kinross Gold Corp.

The consideration for the transaction also included 11.2 million common shares, according to a company notice.

An agreement was also entered into pursuant to which, among other things, Kinross will receive certain anti-dilution rights in respect of future equity financings of Maverix and Maverix will have the opportunity to acquire certain metal streams or metal royalties which Kinross might contemplate selling in the future.

Maverix obtained a $120 million revolver in September to be used for future royalty or stream acquisitions and general corporate purposes.

Maverix Metals is a Vancouver, B.C.-based mining company.

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