VANCOUVER, April 8, 2019 /CNW/ - Maverix Metals Inc. (the
"Company" or "Maverix") (TSX-V: MMX) is pleased to announce it has
amended and increased its revolving credit agreement with Canadian
Imperial Bank of Commerce ("CIBC") and National Bank of
Canada, allowing the Company to
borrow up to US$75 million (the
"Revolving Facility"). The Revolving Facility has a term of four
years, which is extendable through mutual agreement between
Maverix, CIBC, and National Bank. Maverix intends to use the
increased Revolving Facility for future royalty or stream
acquisitions and general corporate purposes.
The amounts drawn on the Revolving Facility are subject to
interest at LIBOR plus 2.00% to 3.00% per annum, and the undrawn
portion of the Revolving Facility is subject to a standby fee of
0.45% to 0.675% per annum, both of which are dependent on the
Company's leverage ratio.
Matt Fargey, CFO of Maverix,
commented, "We are pleased to be able to increase the size and at
the same time reduce the relative cost of our revolving credit
facility and would like to thank both CIBC and National Bank for
the continued support and confidence they have shown in our
business model. The increased liquidity will allow us to continue
growing our asset portfolio by acquiring high quality royalties and
streams."
About Maverix
Maverix is a gold royalty and streaming company. Maverix's
mission is to provide its shareholders with significant low risk
leverage to precious metal prices and to increase underlying per
share value by expanding its portfolio with acquisitions of
high-quality royalties and streams that offer robust returns.
NEITHER THE TSX VENTURE EXCHANGE ("TSX-V") NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
SOURCE Maverix Metals Inc.