Beedie Investments Ltd. Announces Filing of Updated Early Warning Report in Relation to Metalla

Rhea-AI Summary

Beedie Investments Ltd. announced an internal reorganization of its Metalla Royalty and Streaming Ltd. (TSX: MTA) holdings on December 23, 2025. The reorganization transferred 9,546,575 common shares from Beedie Capital to Beedie Capital Investments, and then to Beedie Capital Holdings, leaving Beedie Capital Investments as a wholly owned subsidiary.

Immediately before and after the reorganization, Beedie Capital directly or indirectly owned 9,546,575 common shares, representing approximately 10.31% of Metalla's issued and outstanding common shares on a partially diluted basis. The shares are held for investment purposes and may be bought, sold, or used in future corporate transactions. The early warning report will be filed on SEDAR+.

Key Figures

Beedie shareholding 9,546,575 Common Shares Metalla shares held before and after internal reorganization

Ownership percentage 10.31% of Common Shares Beedie stake on a partially diluted basis, pre- and post-reorg

Current price $8.3 Price before news publication

52-week range $2.4539 – $8.63 52-week low and high for MTA

Market cap $778,441,256 Equity value prior to this news

Tether ownership 6,149,203 shares (6.6%) Stake reported in Schedule 13D/A dated 2025-12-09

Tether initial stake 5,100,369 shares (5.5%) Ownership in Schedule 13D based on 92,542,378 shares outstanding

Free float 92,076,438 shares Float figure from risk context

Market Reality Check

$8.30 Last Close

Volume Volume 527,207 is 1.05x the 20-day average of 500,331 shares. normal

Technical Price at 8.3 is trading above the 200-day MA of 4.8.

Peers on Argus

MTA gained 2.06% while several peers like ASM (-2.01%), ITRG (-3.29%), and MUX (-1.23%) declined, indicating stock-specific strength rather than a broad sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 13	Q3 2025 earnings	Positive	-3.2%	Record Q3 results and first positive net income of $0.6M.
Aug 14	Q2 2025 earnings	Neutral	-1.9%	Q2 results with new $40M facility and Endeavor Mine recommissioning.
Jun 26	Asset handbook	Positive	+1.3%	Publication of 2025 Asset Handbook highlighting 100-royalty portfolio.
Jun 25	Beedie ownership update	Positive	+7.5%	Full repayment of Beedie convertible and reset stake to 10.32%.
Jun 25	New credit facility	Positive	+7.5%	Announcement of $40M revolver with accordion to $75M and Beedie facility retirement.

Pattern Detected

Most recent material updates, including credit facility changes and Beedie-related disclosures, have seen price moves that generally align with the positive or neutral tone of the news, with one notable divergence on strong Q3 earnings.

Recent Company History

Over the last six months, Metalla has reported several balance-sheet and portfolio milestones. On Jun 25, it replaced a C$50.0M convertible facility with a new revolving credit line of up to $75M, and Beedie’s potential stake moved to 10.32% with 9,546,575 shares. Subsequent Q2 and record Q3 2025 results highlighted rising GEOs and improving profitability, including first positive net income of $0.6M. Today’s early warning update from Beedie reflects an internal reorganization that keeps its Metalla share count and percentage essentially unchanged, fitting into an ongoing narrative of evolving but stable strategic holders.

Market Pulse Summary

This announcement details an internal reorganization of Beedie’s Metalla holdings, with ownership remaining at 9,546,575 Common Shares, or about 10.31% on a partially diluted basis. No new capital, securities, or changes in control are disclosed; the stake simply moved within Beedie’s corporate structure. In context of prior updates on credit facilities and major shareholders, investors may focus on how concentrated ownership, future early warning reports, and additional Schedule 13D/13G filings evolve over time.

Key Terms

early warning report regulatory

"Beedie Investments Ltd. announces it has completed an internal reorganization ... early warning report"

An early warning report is a regulatory filing that publicly discloses when an investor or insider has taken a large or potentially influential position in a company's shares or plans significant actions with those shares. It matters to investors because it flags possible shifts in control, takeover attempts, or concentrated influence—like a neighborhood notice that someone is buying several houses on the block—helping readers reassess risk, valuation, and trading strategy.

sedar+ regulatory

"A copy of the early warning report ... will be available under Metalla's profile on SEDAR+ at www.sedarplus.ca"

SEDAR+ is Canada’s centralized online system where publicly traded companies submit required regulatory documents such as financial reports, prospectuses and disclosure statements. It gives investors a single, searchable place — like a public library or online filing cabinet — to check a company’s official records for transparency, compare performance, and verify material information before making investment decisions.

tsx venture exchange regulatory

"Neither TSX Venture Exchange nor its Regulation Services Provider ... accepts responsibility"

A junior stock exchange in Canada where smaller, early-stage companies list shares to raise capital and gain public visibility. Think of it as a farmers’ market for young businesses: it offers investors a chance to buy into fast-growing but higher-risk ventures, with looser listing rules and typically lower liquidity than major exchanges. It matters because performance and financing on this exchange can signal growth prospects or risk for investors.

merger financial

"including the potential purchase ... or privately negotiated transactions, a corporate transaction, such as a merger, reorganization or liquidation"

A merger is when two companies combine into a single business, with ownership and control reorganized so they operate as one entity. For investors it matters because mergers can change the value and risk of holdings—shares may be exchanged, diluted, or rise if the combined company saves costs or gains market power, and the deal often depends on regulatory approval and successful integration like two households joining resources and routines.

liquidation financial

"such as a merger, reorganization or liquidation, involving Metalla"

Liquidation is the process of turning a company’s assets into cash to pay off debts and close the business, often by selling property, inventory or investments. For investors it matters because liquidation determines whether there will be any money left for shareholders after creditors are paid and how much they might recover — like a garage sale where items are sold to settle bills, with leftovers (if any) shared last.

AI-generated analysis. Not financial advice.

Vancouver, British Columbia--(Newsfile Corp. - December 23, 2025) - Beedie Investments Ltd. ("Beedie Capital") announces it has completed an internal reorganization (the "Reorganization") of the holdings of Beedie Capital, pursuant to which: (i) Beedie Capital assigned and transferred 9,546,575 common shares ("Common Shares") in the capital of Metalla Royalty and Streaming Ltd. ("Metalla") to Beedie Capital Investments Ltd. ("Beedie Capital Investments"); and (ii) Beedie Capital assigned and transferred all of the outstanding shares of Beedie Capital Investments to Beedie Capital Holdings Ltd. ("Beedie Capital Holdings"), resulting in Beedie Capital Investments being a wholly-owned subsidiary of Beedie Capital Holdings. The aforementioned securities were valued at their original acquisition cost when transferred by Beedie Capital to Beedie Capital Investments as part of the Reorganization.

Each of Beedie Capital Investments and Beedie Capital Holdings is a wholly-owned subsidiary of Beedie Capital.

Immediately prior to the completion of the internal Reorganization, Beedie Capital, directly or indirectly, owned and controlled a total of 9,546,575 Common Shares, representing approximately 10.31% of the issued and outstanding Common Shares on a partially diluted basis.

Immediately following the completion of the internal Reorganization, Beedie Capital, indirectly through Beedie Capital Investments, would continue to own and control a total of 9,546,575 Common Shares, representing approximately 10.31% of the issued and outstanding Common Shares on a partially diluted basis.

All of the securities held by Beedie Capital in Metalla, including the Common Shares, are being held for investment purposes. Beedie Capital may in the future take such actions in respect of its Metalla securityholdings as it deems appropriate in light of the market circumstances then existing, including the potential purchase of additional shares of Integra through open market purchases or privately negotiated transactions, a corporate transaction, such as a merger, reorganization or liquidation, involving Metalla, or the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers, or Beedie Capital may continue to hold its current positions.

A copy of the early warning report relating to the Common Shares will be available under Metalla's profile on SEDAR+ at www.sedarplus.ca, and may also be obtained by contacting Beedie Investments Ltd. at 604-435-3321. Beedie Capital's head office is located at Suite 900 - 1111 West Georgia St. Vancouver, BC V6E 4M3.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278976

FAQ

What did Beedie Investments announce about its MTA holdings on December 23, 2025?

Beedie announced an internal reorganization transferring 9,546,575 MTA shares among its subsidiaries, leaving its ownership unchanged at ~10.31%.

Does Beedie Investments still control 10.31% of Metalla (MTA) after the reorganization?

Yes. Immediately before and after the reorganization Beedie directly or indirectly owned 9,546,575 shares or about 10.31% on a partially diluted basis.

Will Beedie Investments sell or buy more MTA shares following the December 23, 2025 filing?

The company said the shares are held for investment and it may buy or sell MTA shares or pursue corporate transactions in the future depending on market circumstances.

Where can investors find Beedie’s early warning report for MTA?

The early warning report will be available under Metalla's profile on SEDAR+ at www.sedarplus.ca or by contacting Beedie Investments Ltd. at the phone number provided in the release.

Did the internal reorganization change the valuation basis of Beedie’s MTA shares?

No. The securities were transferred at their original acquisition cost when moved between Beedie entities as part of the reorganization.