Newmont Provides Update On Definitive Agreement With Maverix

DENVER, CO - Newmont Corporation reported that that on September 20, 2020, it entered into a definitive agreement with Maverix Metals Inc. to sell a portfolio of eleven royalties to Maverix. As partial consideration under the Transaction, Newmont will acquire 12,000,000 common shares (each a “Common Share”) of Maverix. The 12,000,000 Common Shares issued to Newmont will have an aggregate value of $79,092,024 (US$60,000,000).

Immediately prior to the Transaction, Newmont owned or exercised control or direction over 30,000,000 Common Shares, representing approximately 23.4% of the issued and outstanding Common Shares and 5,000,000 common share purchase warrants, each Warrant entitling the holder to purchase one additional Common Share, representing 50% of the issued and outstanding Warrants.

Following the Transaction, Newmont, will own (i) 42,000,000 Common Shares, representing approximately 30% of the issued and outstanding Common Shares and (ii) 5,000,000, Warrants, representing 50% of the issued and outstanding Warrants. Should Newmont exercise all of the Warrants, Newmont would hold 47,000,000 Common Shares, representing approximately 32.4% of the issued and outstanding Common Shares (on a partially diluted basis).

The Common Shares were acquired for investment purposes. Newmont will evaluate its investment in Maverix from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease its shareholdings as circumstances require through market transactions, private agreements, or otherwise.