Tax Information For
Maverix Shareholders

Important tax information for Maverix Metals Inc. Shareholders

The exchange of Maverix Metals Inc. (“Maverix”) shares for Triple Flag Precious Metals Corp. (“Triple Flag”) shares results in a disposition of Maverix shares held by each shareholder for Canadian tax purposes. A Maverix shareholder who exchanges Maverix shares for Triple Flag shares only, pursuant to the Arrangement, will generally do so on a tax deferred basis pursuant to section 85.1 of the Income Tax Act (Canada) (the “Tax Act”), unless the Maverix shareholder chooses to recognize a capital gain (or capital loss) in respect of the exchange.

If a Maverix shareholder, who exchanged Maverix shares for Triple Flag shares only, subject to Canadian income tax would like to realize a capital gain in respect of the exchange they should make a joint tax election(s) with Triple Flag under section 85 of the Tax Act and any applicable similar provincial legislation. 

Maverix shareholders who opted to receive both Triple Flag shares and cash that does not make the joint tax election(s) with Triple Flag will not obtain a tax-deferred rollover on any gain realized on the disposition of their Maverix shares and may be subject to Canadian income tax.

Such tax election(s) must be then filled with the Canada Revenue Agency and any applicable provincial taxation authorities in the prescribed form and within the prescribed time. The joint tax election(s) are optional. 

The following Maverix shareholders should NOT file a tax election:

  • Maverix shareholders who received only Triple Flag shares as consideration and do not want to realize a capital gain.
  • Maverix shareholders that are non-residents of Canada and are not required to file a Canadian tax return. Maverix shareholders who are uncertain whether or not they are required to file a Canadian tax return should contact their tax representatives.
  • Maverix shareholders that held all of their Maverix shares in an RRSP, RRIF, RRP, TFSA, or other Canadian tax-exempt plan.
  • Maverix shareholders that realize a loss on the disposition of their Maverix shares.

Any Maverix shareholder subject to Canadian income tax that would like to make a tax election must fill in the questionnaire provided on the website here and email the completed questionnaire to ca_tripleflagpreciousmetalscorp@pwc.com. Maverix shareholders can contact a technical assistance hotline at (416) 815-5313 or email ca_tripleflagpreciousmetalscorp@pwc.com for questions regarding the tax election process. Triple Flag’s representatives will contact the Maverix shareholders with instructions on how to make the tax election once a completed questionnaire is received.