On December 23, 2016, Maverix Metals Inc. (“Maverix”) completed the acquisition of a portfolio of 11 royalties (“the GF Royalties”) from Gold Fields Netherlands Services BV (“Gold Fields”) a wholly owned subsidiary of Gold Fields Limited, and certain affiliates. As part of the Transaction Maverix issued to Gold Fields a total of 42,850,000 common shares from its treasury and 10 million common share purchase warrants exercisable within five years at a price of US$1.204 ($1.60) per Maverix common share.
Concurrently with the closing of the Transaction, 10 million Maverix common share purchase warrants having an exercise price of US$0.546 ($0.70) per Maverix common share were exercised by the holder thereof (the “Holder”) for aggregate proceeds of US$5,460,000 (the “Warrant Exercise”). The Warrant Exercise was carried out as part of an early warrant exercise incentive arrangement pursuant to which Maverix issued to the Holder 6,500,000 Maverix common share purchase warrants with an exercise price of US$1.204 ($1.60) per common share of Maverix and expiring on July 8, 2021.
Maverix was represented in-house by Oggy Talic, Executive Vice President and General Counsel. In Canada, the company’s external counsel was Blake, Cassels & Graydon LLP with a team led by Bob Wooder and including Trisha Robertson, William (Bill) Maclagan, Ashley Baker, Daniel Cherniak and Luke Hills. Pablo Mir and Heleny Caratazos of Bofill Mir & Álvarez Jana acted as Chilean counsel. Clayton Utz’s Stuart MacGregor, Jon Prentice and Johnson Lo acted as Australian counsel. Lennox Paton acted as British Virgin Islands counsel with a team including Robert McIntyre and Fiona Forbes. Pellerano & Herrera acted as Dominican Republic counsel with a team including Paloma Grullón and Luis Pellerano.
Gold Fields’s in-house team consisted of Alan Gibson, Vice President, Head of Legal, Corporate Development, and Laura Noonan-Crowe, Senior Legal Counsel. Fasken Martineau DuMoulin LLP acted as Canadian counsel with a team including Brian Graves, Myroslav Chwaluk, Doug New and Christopher Steeves. Gonzalo Grez of Cariola Diez Perez-Cotapos & Cía acted as Chilean counsel. Cora Miller of Conyers Dill & Pearman represented Gold Fields in the British Virgin Islands. Warman & Goldblatt acted as Australian counsel with a team including Lauren Goldblatt, Tim Warman and Michael Georgiou.