Unless otherwise specified, all references to dollars set forth herein shall mean United States dollars.

VANCOUVER, BC, May 14, 2021 /CNW/ – Metalla Royalty & Streaming Ltd. (“Metalla” or the “Company”) (TSXV:MTA) (NYSE:MTA) is pleased to announce that it has entered into a new equity distribution agreement (the “Distribution Agreement”) with a syndicate of agents (collectively, the “Agents”) including BMO Nesbitt Burns Inc. (the “Lead Canadian Agent”), PI Financial Corp, and Scotiabank, as the Canadian agents, and BMO Capital Markets Corp.‎ (the “Lead U.S. Agent”) and Scotiabank, as the United States agents, for a new at-the-market equity program (the “New ATM Program”).

The Distribution Agreement will replace the Company’s previous equity distribution agreement, which has been terminated, and will allow the Company to distribute up to $35.0 million (or the equivalent in Canadian dollars) of common shares of the Company (the “Offered Shares”) under the New ATM Program. The Offered Shares will be issued by the Company to the public from time to time, through the Agents, at the Company’s discretion. The Offered Shares sold under the ATM Program, if any, will be sold at the prevailing market price at the time of sale.

The net proceeds of any such sales under the New ATM Program will be used to finance the future purchase of streams and royalties by the Company and for general working capital purposes.

Under the Distribution Agreement, sales of Offered Shares will be made by the Agents through “at-the-market distributions” as defined in National Instrument 44-102 – Shelf Distributions on the TSX Venture Exchange, NYSE American LLC or any other trading market for the Offered Shares in Canada or the United States. The Company is not obligated to make any sales of Offered Shares under the Distribution Agreement. Unless earlier terminated by the Company or the Agents as permitted therein, the Distribution Agreement will terminate upon the earlier of …

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