VANCOUVER, BC--(Marketwired - April 28, 2017) - Maverix Metals Inc. (the "Company" or "Maverix") (TSX VENTURE: MMX) is pleased to announce that Mr. Matt Fargey has joined the Company and will assume the position of Chief Financial Officer ("CFO"), effective May 30, 2017. In addition, Mr. Brent Bonney has been appointed as Vice President, Corporate Development of the Company, effective March 3, 2017.
Mr. Fargey brings additional experience to the Maverix team having previously served as Corporate Controller for another metal streaming and royalty company. In his previous role, Mr. Fargey was involved in financial reporting, tax compliance, public financings, tax structuring and integration of acquisitions, and managing the day-to-day accounting of the company. Prior to becoming a Corporate Controller, he was a Manager in the Audit and Assurance Group at PricewaterhouseCoopers LLP. Mr. Fargey holds Chartered Professional Accountant and Chartered Financial Analyst designations and has a Bachelor of Commerce from the University of Victoria.
Prior to his appointment, Mr. Bonney was a member of the investment banking group with Scotiabank Global Banking and Markets specializing in the metals and mining sector. While in investment banking, he assisted clients in assessing and executing on various strategic initiatives including mergers and acquisitions, asset divestitures, strategic investments as well as other forms of equity and debt financing. Mr. Bonney holds a Bachelor of Commerce (Honours) in Finance from the University of British Columbia.
Mr. Fargey will be replacing Mr. Wayne Vincent who has served as Maverix's CFO since the Company's launch into the metal streaming and royalty business last year. Mr. Vincent will continue to work with the Company, on a part time basis, as Senior Financial Advisor. The Board of Directors wish to expressly thank Mr. Vincent for his dedicated efforts in stewarding the financial reporting of Maverix during its inaugural year. Mr. Vincent will resign as CFO on May 30, 2017 following the Company's Annual General Meeting ("AGM").
Retirement of George Brown from the Board of Directors & Nomination of Daniel O'Flaherty for Election
Mr. George Brown has informed the Company of his intention to retire from his role as a Director at the end of his current term and as a consequence he will not be standing for re-election at the upcoming AGM on May 30, 2017. The Company would like to extend its thanks and sincere appreciation to Mr. Brown for his leadership and counsel, particularly during the transition from MacMillan Minerals Inc. (predecessor to Maverix).
Upon recommendation from the Nominating and Governance Committee, the Board has approved the nomination of Mr. Daniel O'Flaherty and the remaining incumbent directors for election by the shareholders at this year's AGM. The inclusion of Mr. O'Flaherty, the Company's CEO, on the Board will help to ensure continuity and be of added benefit to the strengthened management team as it continues to execute on Maverix's strategy.
Mr. O'Flaherty said, "I am very much looking forward to working even more closely with the Board as Maverix continues to grow and create value. I would also like to take this opportunity to welcome our new team members and to thank George for his many years of dedication and leadership and on behalf of all of us at Maverix we wish him well in his retirement and future endeavors."
Grant of Incentive Plan Shares and Options
The Company would also like to announce that it has granted to management, pursuant to awards for 2016 under the terms of the Company's long-term incentive plan and annual incentive plan, as well as in conjunction with the hiring of Mr. Fargey and Mr. Bonney; (i) options to purchase up to an aggregate of 1,676,226 Common Shares, exercisable for a period of five years from the date of grant, and having an exercise price of $1.40 per Common Share, and (ii) an aggregate of 113,637 Common Shares.
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.