00:42:30 EDT Wed 19 Jun 2019
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Metalla Royalty and Streaming Ltd
Symbol C : MTA
Shares Issued 120,474,479
Close 2019-04-11 C$ 1.24
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Metalla sues Alexandria over Cadillac Break royalty

2019-04-12 09:38 ET - Street Wire

Also Street Wire (C-AZX) Alexandria Minerals Corp

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by Mike Caswell

Metalla Royalty and Streaming Ltd. has filed a lawsuit in the Supreme Court of British Columbia against Alexandria Minerals Corp. over a royalty negotiation gone awry. Metalla claims that Alexandria breached the terms of a letter of intent between the companies with respect to the Cadillac Break property. According to the suit, Alexandria unfairly set up a deal to sell a royalty on the property to another party.

The allegations are contained in a brief notice of claim that Metalla filed at the Vancouver courthouse on April 9, 2019. The lawsuit stems from a letter of intent that Metalla says it entered into with Alexandria on Jan. 22, 2019. The LOI, as described in the suit, was for a royalty that Alexandria would grant Metalla on Cadillac Break. The LOI set out how Alexandria would suspend talks it was having with anybody else and would negotiate exclusively with Metalla. The LOI also specified that Alexandria was to immediately notify Metalla of any other proposal it received.

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