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Media Release: Clayton Utz acts as Australian counsel to Canada’s Maverix Metals Inc. on $50m royalties portfolio acquisition from Barrick Gold Corp
Time to read: 1 minutes
A Clayton Utz team has acted as Australian counsel to TSX- and NYSE American-listed Maverix Metals Inc. (Maverix) on the acquisition of a portfolio of 22 royalties (the Royalty Portfolio) from Barrick Gold Corp. (Barrick). The transaction was announced on 1 September 2022.
Partner Stuart MacGregor, who heads our Energy and Resources industry group, led our team which included special counsel Andrew Holmes, senior associate Jon Prentice and Lawyer Alex Davies. They worked alongside a team from Canadian firm Blake, Cassels & Graydon LLP.
The Royalty Portfolio comprises 22 royalties, including on development, advanced exploration and exploration stage projects located predominantly in Canada, the United States, and Australia. Under the terms of the transaction, Maverix will pay Barrick an upfront cash consideration of $50 million and contingent consideration of up to $10 million.
Commenting on our role, Stuart said:
Our team was pleased to be able to collaborate with our Canadian colleagues in helping Maverix to expand its already robust portfolio of royalties and streams with a strong growth pipeline.
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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.