Gold Fields completes strategic sale of royalty portfolio to Maverix Metals

On December 23, 2016 Gold Fields Netherlands Services B.V. (a wholly owned subsidiary of Gold Fields Limited) and certain of its affiliates completed a strategic sale of a portfolio of 11 mineral property royalties to Maverix Metals Inc. As consideration for the royalties, Maverix issued a total of 42,850,000 common shares and 10,000,000 common share purchase warrants to Gold Fields, for a transaction value of approximately US$32 million. Upon completion of the transaction and a concurrent Maverix financing transaction, Gold Fields owns approximately 32% of the issued and outstanding common shares of Maverix. The transaction allowed Gold Fields to unlock embedded value in its portfolio through longer term exposure to the listed royalty and streaming sector, which often trades at premium market valuation multiples. Fasken Martineau advised Gold Fields in the negotiation, structuring and execution of the sale, across a number of global jurisdictions, with a team led by Brian Graves and including Myroslav Chwaluk, Doug New and Christopher Steeves.