VANCOUVER, BC--(Marketwired - February 21, 2017) - Maverix Metals Inc. ("Maverix") (TSX VENTURE: MMX) is pleased to announce that it has closed the transaction announced on February 1, 2017 in accordance with the Royalty Purchase and Sale Agreement (the "Agreement") entered into with Resource Income Fund, L.P. ("RIF"), a wholly owned subsidiary of Auramet Trading, LLC, dated January 31, 2017 (the "Transaction"). As part of the Transaction Maverix:
- acquired two net smelter return royalty interests on the Florida Canyon and Beta/Hunt mines from RIF, both of which are currently paying quarterly and where royalty payments are expected to increase as the underlying mines complete significant expansions;
- issued to RIF a total of 8,500,000 common shares from its treasury; and
- paid to RIF US$5,000,000 in cash, all in accordance with the terms and conditions of the Agreement.
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.