Maverix Metals uses revolver for $50 million acquisition from Barrick Gold

Chicago, Sept. 1 – Maverix Metals Inc. will use an existing credit facility for the $50 million upfront cash consideration to purchase a portfolio of 22 royalties from Barrick Gold Corp., according to a press release.

The company also will use cash for the acquisition.

The acquisition also has a contingent consideration of up to an additional $10 million depending on certain events occurring within six years of the closing date.

The transaction is expected to close by the end of September and is subject to customary closing conditions.

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

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