VANCOUVER, British Columbia, Nov. 23, 2017 (GLOBE NEWSWIRE) — Maverix Metals Inc. (the “Company” or “Maverix”) (TSX-V:MMX) wishes to clarify and amend statements made in the Company’s news release dated November 22, 2017.
The opening paragraph in the news release referenced above is amended and replaced as follows:
“Maverix has entered into a binding Royalty Purchase Agreement dated November 22, 2017 pursuant to which Maverix will acquire a “previously existing” 2.0% net smelter return royalty “from a third party seller”, on Endeavour Mining Corporation’s (“Endeavour”) interest in the Karma gold mine (the “Royalty”) for consideration of US$20,000,000 in cash (the “Transaction”).”
Furthermore, the Terms of the Transaction section in the same news release is hereby amended and replaced as follows:
“Closing of the Transaction is expected to occur before the end of the year (the “Closing Date”). Closing of the Transaction is “conditional upon customary closing conditions” and Maverix, the “third party” seller, and the Endeavour subsidiaries that own the Karma gold mine entering into an assignment agreement on or before the Closing Date.”
Mr. Geoff Burns, Chairman of Maverix commented, “Maverix did not intend to imply that a new royalty was being created on the Karma mine and would like to apologize to Endeavour and its stakeholders for any confusion we may have caused.”
Maverix Metals Inc. is a gold royalty and streaming company. Maverix’s primary purpose is to acquire and hold predominantly precious metals streams and royalties, and in so doing provide significant leverage to gold and silver prices for its shareholders. Maverix’s mission is to increase underlying per share value by adding high-quality streams and royalties that offer robust returns to Maverix’s portfolio.
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NEITHER THE 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.
Forward-looking statements and information include, but are not limited to, statements with respect to the transactions contemplated under the Transaction, anticipated cash flows upon completion of the Transaction, future financial reporting by Maverix, the receipt of payments from Maverix’s mining royalty and streaming portfolio and proposed future transactions Maverix may undertake and their expected timing. 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 statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Maverix to control or predict, that may cause Maverix’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the requirement for regulatory approvals and third party consents, the impact of general business and economic conditions, the absence of control over the mining operations from which Maverix will purchase gold or receive royalties, including risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Maverix’s expectations; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental 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.