The new entity will have 29 paying assets and 228 assets overall, located in Australia, Latin America and North America.
Streaming and royalty firms provide upfront financing for exploration and development to precious metals producers in exchange for a percentage of production or revenues from any future output.
Maverix investors have the option of receiving either $3.92 in cash or 0.360 of a Triple Flag share for each share held. This represents a 10% premium to Maverix shares closing price of C$4.77.
The transaction is expected to be completed in January 2023, after which Triple Flag and Maverix shareholders would own about 77% and 23%, respectively, of the combined company.
The agreement allows Triple Flag to match superior proposals and a $24 million termination fee.
“The merger of Maverix and Triple Flag represents that rare opportunity to combine the best with the best,” Geoff Burns, founder and chair of Maverix, said in…
