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Maverix Metals Inc (CVE:MMX), the streaming and royalty firm, has new North America-based institutional investors after major backer Gold Fields Ltd sold out its entire stake in the resource group.
In a series of transactions over the last three weeks, Gold Fields Netherlands Services, a subsidiary of Gold Fields sold over 21.4 million Maverix shares, which represented around 19.9% of the firm, Maverix said in a brief statement.
The buyers of Gold Fields’ block of shares were mainly North America-based financial institutions, led by Resolute Funds Ltd and Tocqueville Asset Management.
Global leaders in mining investment
"We would like to warmly welcome these institutions as new shareholders of Maverix, recognizing them as global leaders in the mining investment sector," said Dan O’Flaherty, Maverix’s president and CEO.
"With our recent application to list on the NYSE American, our conditional approval for graduation to the TSX, and now broadening our shareholder base, we continue to execute on our plan to grow our public markets profile, attract a wider investor following and improve our trading liquidity."
Last month, the group said it had applied to list its shares on the NYSE American exchange. In conjunction, Maverix wants to graduate to the Toronto Stock Exchange (TSX) from the Venture exchange, where it is currently, and it has received conditional approval to have its shares listed on the TSX