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12 September 20232 minute read

DLA Piper advises on leading mining royalty combination between ‎Metalla Royalty & Streaming and Nova ‎Royalty‎ and concurrent investment by strategic investor with ‎deal value of $260 million

On September 7, 2023, Metalla Royalty & Streaming Ltd. (“Metalla”) (TSXV: MTA) (NYSE American: MTA) and Nova ‎Royalty (TSXV: NOVR) (OTCQB: NOVRF) (“Nova”) announced that they have ‎entered into an arrangement agreement in which Metalla will ‎acquire all of the issued and outstanding common shares of Nova, with concurrent investment by way of equity subscription and convertible credit facility by Beedie Capital for $65 million. DLA Piper acted as transaction counsel on this leading mining combination valued at $260 million in total.

Metalla is a royalty and streaming company offering investors leveraged exposure to precious metals by acquiring royalties and streams. Nova Royalty Corp. is a copper and nickel-focused royalty company which has assembled a ‎portfolio of royalties on a significant proportion of the next generation of major copper ‎projects located in 1st-tier jurisdictions, providing investors exposure to some of the most ‎critical resource assets for the clean energy transition. ‎This transaction positions the combined company as a leading emerging intermediate royalty company.‎

Read more about the transaction here.

The DLA Piper Canada deal team was lead by Partner Denis Silva and included Rob Fonn, Sydney A. Kert, Jennifer Poirier, Doug Shields, Michael Richards, Campbell Fitch, Geneviève Lille, Kaleigh Nevin, Nahal Iranpour and Beatriz Albuquerque. The combination is the latest in a series of transactions DLA Piper Canada has assisted both Metalla and Nova with. The Canadian team was supported by Andrew Ledbetter (Seattle), Kevin England (San Diego) and Michelle Lara (San Diego).

The special committees appointed independent counsel to enable DLA Piper as transaction counsel.