Triple Flag Establishes Automatic Share Purchase Plan
TORONTO--(BUSINESS WIRE)--Dec 23, 2021--
Triple Flag Precious Metals Corp. (“ Triple Flag ”) (TSX:TFPM, TSX:TFPM.U), a gold-focused streaming and royalty company that offers bespoke financing solutions to the metals and mining industry, today announced that, in connection with its previously announced normal course issuer bid (“ NCIB ”) to purchase up to 2,000,000 of its common shares, it recently entered into an automatic share purchase plan (“ ASPP ”) with the designated broker responsible for the NCIB. The ASPP is intended to allow for the purchase of its common shares under the NCIB at times when Triple Flag would ordinarily not be permitted to purchase its common shares due to regulatory restrictions and customary self-imposed blackout periods.
Pursuant to the ASPP, prior to entering into a blackout period, Triple Flag may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with the terms of the ASPP. Such purchases will be made by the designated broker in its sole discretion based on parameters established by Triple Flag prior to the blackout period in accordance with the rules of the Toronto Stock Exchange (“TSX”), applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and will be implemented effective as of January 1, 2022.
Outside of the pre-determined blackout periods, common shares may be purchased under the NCIB based on the discretion of Triple Flag’s management, in compliance with TSX rules and applicable securities laws. The NCIB commenced on October 14, 2021 and will end no later than October 13, 2022. All repurchases made under the ASPP will be included in computing the number of common shares purchased under the NCIB. As of the date hereof, Triple Flag has purchased 155,778 of its common shares under the NCIB.
About Triple Flag
Triple Flag’s shares are listed on the TSX under TFPM.U (USD listing) and TFPM (CAD listing). On May 26, 2021 Triple Flag closed its initial public offering (“ IPO ”), which was the largest TSX-listed mining IPO since 2012 by size and market capitalization, and the largest precious metals IPO globally by market capitalization since 2008. Triple Flag is a gold-focused streaming and royalty company, providing investors exposure to a long-life, diversified and high-quality portfolio of streams and royalties, that generates robust free cash flows. Our business is underpinned by a rigorous focus on asset quality, optionality, sustainability and risk management. We offer bespoke financing solutions to the metals and mining industry. Our mission is to be a sought-after, long-term funding partner to mining companies throughout the commodity cycle. Since our inception in 2016, we have delivered sector-leading growth through the construction of a diversified portfolio of streams and royalties that provides exposure primarily to gold and silver in the Americas and Australia. We have 75 assets, including 9 streams and 66 royalties. These investments are tied to mining assets at various stages of the mine life cycle, including 15 producing mines and 60 development and exploration stage projects. References to Triple Flag mean Triple Flag Precious Metals Corp., together with its wholly owned subsidiaries.
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projection”, “prospects”, “strategy”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or terminology which states that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur” or “be achieved”. Our intentions with respect to the NCIB and ASPP described in this news release are considered forward-looking information. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding possible future events or circumstances.
The forward-looking information included in this news release is based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. These assumptions include, but are not limited to, the following: assumptions in respect of our capital resources and current and future market conditions (including the pricing and trading volume of our common shares) and the execution of our business strategies, and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated, intended or implied. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Forward-looking information is also subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but are not limited to, those set forth under the caption “Risk Factors” in our May 19, 2021 prospectus. For clarity, mineral resources that are not mineral reserves do not have demonstrated economic viability and inferred resources are considered too geologically speculative for the application of economic considerations.
Although we have attempted to identify important risk factors that could cause actual results or future events to differ materially from those contained in forward looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward looking information, which speaks only as of the date made. The forward-looking information contained in this news release represents our expectations as of the date of this news release and is subject to change after such date. We disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.
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Vice President, Evaluations & Investor Relations
+1 (416) 304-9770
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES
SOURCE: Triple Flag Precious Metals Corp.
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PUB: 12/23/2021 06:30 PM/DISC: 12/23/2021 06:31 PM