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Maverix Metals' revolving credit facility upsized to US$120M

Maverix Metals Inc. said Sept. 16 that it has secured commitments to increase its revolving credit facility to US$120 million from US$75 million, for future royalty and stream acquisitions and general corporate purposes.

In August, TMAC Resources Inc. said that it amended its agreement with Maverix, increasing the latter's net smelter royalty by 1.5% from the existing 1% along with a US$3 million concurrent equity issuance at a price of C$6.0 per share, for total proceeds of US$43 million to support investments growth in the Hope Bay gold project in Nunavut, Canada.