Triple Flag completes arrangement with Maverix, acquires portfolio of 148 royalties and streams
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According to a press release, in aggregate, Triple Flag issued 45.1 million common shares of the company and paid US$86.7 million to former Maverix shareholders.
"With the completion of the arrangement, existing Triple Flag and former Maverix shareholders are expected to own approximately 78% and 22% of the pro forma outstanding shares of Triple Flag, respectively," the company said.
Triple Flag noted it believes this arrangement solidifies the company's position as the fourth-largest senior streaming and royalty company, meaningfully increasing net asset value and creating a company with greater scale and an immediate increase in GEOs, underpinned by high-quality assets and operators.
Founder and CEO Shaun Usmar commented, "We are extremely pleased to have completed this transaction, which solidifies Triple Flag as the leading gold-focused emerging senior streaming and royalty company.
"Maverix's highly diversified portfolio of 148 royalties and streams complements our strong pre-existing portfolio and provides increased scale, meaningful immediate cash flow and gold-equivalent ounce accretion as well as additional exposure to significant future organic growth."
Triple Flag is an emerging senior streaming and royalty company. The company offers bespoke financing solutions to the metals and mining industry with exposure primarily to gold and silver in the Americas and Australia, with a total of 229 assets, including 15 streams and 214 royalties. These investments are tied to mining assets at various stages of the mine life cycle, including 29 producing mines and 200 development and exploration stage projects.
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