Maverix MetalsInc., formerly MacMillan Minerals Inc., said July 11 that it hascompleted the acquisition of 13 royalties, precious metals streams andpayment agreements from PanAmerican Silver Corp.
As part of the deal, the company changed its name to MaverixMetals and consolidated its common shares on a 1-for-2 basis, with thepost-consolidated common shares to start trading July 12 on the TSX VentureExchange.
Pursuant to the deal, Maverix Metals issued 75,929,091post-consolidation common shares. Of this amount, Pan American received42,850,000 common shares and 20,000,000 common share purchase warrants inexchange for the portfolio.
Half the warrants, which expire after five years, can beexercised for 70 Canadian cents per share and the balance exercisable at C$1.00per share.
Upon the arrangement's close, Maverix will have a total of79,837,856 issued and outstanding common shares, of which Pan American holdsabout 54% on a non-diluted basis.