Update: Metalla Royalty & Streaming Ltd (OTCMKT:EXCFF)

Update: Metalla Royalty & Streaming Ltd (OTCMKT:EXCFF)

Update: Metalla Royalty & Streaming Ltd (OTCOB:EXCFF)


Metalla Royalty & Streaming Ltd. (OTCQB:EXCFF)  has announce that it closed the non-brokered portion of the private placement announced February 13, 2017 for gross proceeds of $3,216,818 for 6,433,636 units (“Units”) at $0.50 per Unit.

Each Unit consists of one common share and one-half of one common share purchase warrant. Each full warrant is exercisable to acquire an additional common share at $0.75 per share for a period of two years from the closing date.

The warrants are subject to an acceleration clause if the stock trades at or above $1.00 for ten consecutive trading days. All securities issued in connection with the offering are subject to a four-month-and-a-day hold period.

Broker fees where applicable were 7% cash commission and 7% broker warrants at $0.75 for 2 years.

Red Cloud Klondike Strike acted as adviser for the transaction.

The Company has granted 600,000 stock options at $.58 per share for officers, directors, and consultants in accordance with the company stock option plan.

Further, Metalla signed a binding agreement with 2090720 Ontario Inc to purchase 5 net smelter royalties (NSR’s) on property located within or proximal to four established mining camps in Ontario.

The NSR’s will be purchased outright for 250,000 common shares of Metalla and 150,000 warrants allowing 2090720 Ontario Inc to acquire 150,000 shares at $0.75 for a period of two years.

By Brett Heath
President and Director​

Metalla Royalty & Streaming Ltd.

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