Excalibur Resources Changing to Metalla Royalty & Streaming, Closes Acquisition of High Stream Corp, Appoints Brett Heath as President - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 2, 2016) - Excalibur Resources (CSE: XBR) (OTCQX: EXCFF) (FSE: X9CN) has closed its acquisition of High Stream Corp, a specialty streaming and royalty finance company, at a cost of 10 million shares of Excalibur. To better represent its business moving forward, the company plans to change its name to Metalla Royalty and Streaming Ltd., and reserve MTA as its new trading symbol.
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High Stream's Brett Heath joins Excalibur as the new president. At High Stream, he held the positions of chairman and CEO, where he advised and brokered gold and silver streaming and royalty transactions with numerous public companies and private equity funds. Prior to that, he was the president of a private streaming company where he closed four streaming transactions in three jurisdictions. He was a founding principal of KSIR Capital Management, a hedge fund focused on small and micro-cap mining companies.
As the new president, Brett Heath stated: "I look forward to building a portfolio of gold and silver streaming and royalty assets for the company. I am also excited to help shape a new team and board as the company moves in this new direction."
Tim Gallagher, Chairman and CEO, stated: "Brett brings a tremendous amount of direct streaming structuring experience and specific executable cash flow deals, which will benefit all shareholders as we continue to grow and emerge as a new royalty and streaming company."
Earlier this week the company closed a 2% Royalty with Orefinders Resources, with proceeds capped at $1 million. Please refer to the news release of August 29th for complete details.
The shares are trading at $0.10, and with 95.9 million shares outstanding, the company is capitalized at $9.6 million.
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