Tether group reports 12.1% stake in Metalla

Rhea-AI Filing Summary

Metalla Royalty & Streaming Ltd. received an updated ownership filing showing that Tether Global Investments Fund, its El Salvador affiliates, and Giancarlo Devasini together beneficially own 11,266,571 common shares, or 12.1% of the company, based on 93,442,762 shares outstanding as of May 7, 2026.

The stake is held through Tether International, S.A. de C.V. with 9,266,571 shares and Tether Investments, S.A. de C.V. with 2,000,000 shares, over which Tether Global Investments Fund and Mr. Devasini report shared voting and dispositive power.

Insights

Equity ownership analyst

Tether-affiliated entities report a 12.1% stake in Metalla, signaling a sizable strategic holder.

The amendment shows Tether Global Investments Fund, its subsidiaries, and Giancarlo Devasini now report beneficial ownership of 11,266,571 Metalla common shares, or 12.1% of outstanding shares as of May 7, 2026. This positions them as a major shareholder with shared voting and dispositive power.

The structure spreads holdings across Tether International (9,266,571 shares) and Tether Investments (2,000,000 shares), with Mr. Devasini’s influence flowing through a majority voting interest in Tether Global Investments Fund. Future company filings may detail any further changes in this ownership position or related governance developments.

Key Figures

Beneficial ownership: 11,266,571 shares Ownership percentage: 12.1% Shares outstanding: 93,442,762 shares +4 more

7 metrics

Beneficial ownership 11,266,571 shares Aggregate Metalla common shares beneficially owned by Reporting Persons

Ownership percentage 12.1% Portion of Metalla common shares outstanding as of May 7, 2026

Shares outstanding 93,442,762 shares Metalla common shares outstanding as of May 7, 2026

Tether International holding 9,266,571 shares Metalla common shares held by Tether International, S.A. de C.V.

Tether Investments holding 2,000,000 shares Metalla common shares held by Tether Investments, S.A. de C.V.

Tether International ownership %% 9.9% Metalla common shares represented by Tether International’s holding

Tether Investments ownership %% 2.1% Metalla common shares represented by Tether Investments’ holding

Key Terms

beneficially own, shared voting power, shared dispositive power, Schedule 13D, +2 more

6 terms

beneficially own financial

"The Reporting Persons beneficially own an aggregate of 11,266,571 Common Shares, representing 12.1% of the outstanding Common Shares."

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

shared voting power financial

"Each of Tether Global Investments Fund, S.I.C.A.F., S.A. and Mr. Devasini has shared voting and dispositive power with respect to the beneficially owned 11,266,571 Common Shares."

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Tether International, S.A. de C.V. has shared voting and dispositive power with respect to 9,266,571 Common Shares."

Schedule 13D regulatory

"This statement on amends the of Tether Holdings, S.A. de C.V. ... and constitutes Amendment No. 7 to the ."

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

Management Information Circular regulatory

"This percentage is calculated based upon 93,442,762 shares outstanding as of May 7, 2026, as reported in the Management Information Circular filed as an exhibit to the Form 6-K."

A management information circular is a document sent to shareholders ahead of a company meeting that explains who is asking for votes, what decisions will be made, and why management recommends a particular outcome. Like an instruction booklet and argument sheet combined, it lays out details such as board nominees, executive pay, major transactions and any conflicts, helping investors decide how to vote and judge whether leadership choices could affect the company’s future value.

joint statement per Rule 13d-1(k) regulatory

"99.1 Agreement of filing persons relating to filing of joint statement per Rule 13d-1(k)."

FAQ

How many Metalla Royalty (MTA) shares do Tether-related entities now beneficially own?

Tether Global Investments Fund and its affiliates beneficially own 11,266,571 Metalla common shares. This represents a substantial position in the company and is disclosed as 12.1% of the outstanding common shares based on 93,442,762 shares outstanding as of May 7, 2026.

What percentage of Metalla Royalty (MTA) does the Tether group’s 11,266,571 shares represent?

The filing states that 11,266,571 Metalla common shares represent 12.1% of the outstanding class. This percentage is calculated using 93,442,762 shares outstanding as of May 7, 2026, as reported in Metalla’s management information circular attached to a Form 6-K filed on May 15, 2026.

How are the Metalla Royalty (MTA) shares split between Tether International and Tether Investments?

Tether International, S.A. de C.V. holds 9,266,571 Metalla common shares, while Tether Investments, S.A. de C.V. holds 2,000,000 shares. Both are controlled subsidiaries of Tether Global Investments Fund, and each reports shared voting and dispositive power over its respective block of shares.

What ownership interest does Giancarlo Devasini report in Metalla Royalty (MTA)?

Giancarlo Devasini is reported as beneficially owning 11,266,571 Metalla common shares, or 12.1% of the company. These shares are held through Tether International and Tether Investments, and he has a greater than 50% voting interest in Tether Global Investments Fund, while disclaiming beneficial ownership beyond his pecuniary interest.

What type of SEC filing is this Metalla Royalty (MTA) ownership disclosure by Tether?

This disclosure is an Amendment No. 7 to a Schedule 13D relating to Metalla Royalty & Streaming Ltd. It updates prior beneficial ownership information for Tether Global Investments Fund, its affiliated entities, and Giancarlo Devasini regarding their collective stake in Metalla’s common shares.

Do Tether Global Investments and Giancarlo Devasini have shared voting power in Metalla (MTA)?

Yes. The filing states that Tether Global Investments Fund and Giancarlo Devasini have shared voting and dispositive power over 11,266,571 Metalla common shares. Tether International and Tether Investments also report shared voting and dispositive power over their respective 9,266,571 and 2,000,000 share holdings.

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Accepted by SEC EDGAR 06/09/2026 - 10:33 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)

Metalla Royalty & Streaming Ltd.

(Name of Issuer)

Common Shares, without par value

(Title of Class of Securities)

59124U605

(CUSIP Number)

Tether Global Investments Fund
Final Av. La Revolucion, Edif. Centro, Corporativo Presidente Plaza, Nivel 12
San Salvador, H3, 00000
4420 4621 1793

Daniel Woodard
McDermott Will & Schulte LLP, One Vanderbilt Avenue
New York, NY, 10017
(212) 547-5400

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/05/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 59124U605

1

Name of reporting person

Tether Global Investments Fund, S.I.C.A.F., S.A.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

EL SALVADOR

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 11,266,571.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 11,266,571.00

11

Aggregate amount beneficially owned by each reporting person

11,266,571.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

12.1 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Note in relation to Items 8, 10 and 11: Includes 9,266,571 common shares, no par value ("Common Shares") of Metalla Royalty & Streaming Ltd. held by Tether International, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A., and 2,000,000 Common Shares held by Tether Investments, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A. Note in relation to Item 13: This percentage is calculated based upon 93,442,762 shares outstanding as of May 7, 2026, as reported in the Management Information Circular filed as an exhibit to the Form 6-K filed with the Securities and Exchange Commission on May 15, 2026.

SCHEDULE 13D

CUSIP Number(s): 59124U605

1

Name of reporting person

Tether International, S.A. de C.V.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

EL SALVADOR

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 9,266,571.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 9,266,571.00

11

Aggregate amount beneficially owned by each reporting person

9,266,571.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.9 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Note in relation to Item 13: This percentage is calculated based upon 93,442,762 shares outstanding as of May 7, 2026, as reported in the Management Information Circular filed as an exhibit to the Form 6-K filed with the Securities and Exchange Commission on May 15, 2026.

SCHEDULE 13D

CUSIP Number(s): 59124U605

1

Name of reporting person

Tether Investments, S.A. de C.V.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

EL SALVADOR

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,000,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,000,000.00

11

Aggregate amount beneficially owned by each reporting person

2,000,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.1 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Note in relation to Item 13: This percentage is calculated based upon 93,442,762 shares outstanding as of May 7, 2026, as reported in the Management Information Circular filed as an exhibit to the Form 6-K filed with the Securities and Exchange Commission on May 15, 2026.

SCHEDULE 13D

CUSIP Number(s): 59124U605

1

Name of reporting person

Giancarlo Devasini

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

ITALY

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 11,266,571.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 11,266,571.00

11

Aggregate amount beneficially owned by each reporting person

11,266,571.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

12.1 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Note in relation to Items 8, 10 and 11: Includes 9,266,571 Common Shares held by Tether International, S.A. de C.V. a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A., and 2,000,000 Common Shares held by Tether Investments, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A. Mr. Devasini has a greater than 50% voting interest in Tether Global Investments Fund, S.I.C.A.F., S.A. The reporting person disclaims beneficial ownership of these shares except to the extent of the reporting person's pecuniary interest. Note in relation to Item 13: This percentage is calculated based upon 93,442,762 shares outstanding as of May 7, 2026, as reported in the Management Information Circular filed as an exhibit to the Form 6-K filed with the Securities and Exchange Commission on May 15, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, without par value
(b)	Name of Issuer: Metalla Royalty & Streaming Ltd.
(c)	Address of Issuer's Principal Executive Offices: 543 Granville Street, Suite 501, Vancouver, BRITISH COLUMBIA, CANADA , V6C 1X8.
Item 1 Comment: This statement on Schedule 13D amends the Schedule 13D of Tether Holdings, S.A. de C.V., an El Salvador entity, Tether Investments, S.A. de C.V., an El Salvador entity ("Tether Investments") and Giancarlo Devasini that was originally filed with the Securities and Exchange Commission (the "SEC") on October 24, 2025, as amended by Amendment No. 1 filed on December 9, 2025, Amendment No. 2 filed on January 9, 2026, Amendment No. 3 filed on February 4, 2026, Amendment No. 4 filed on March 12, 2026, Amendment No. 5 filed on March 26, 2026 and Amendment No. 6 filed on May 12, 2026 (as amended, the "Schedule 13D") with respect to the common shares, without par value ("Common Shares") of Metalla Royalty & Streaming Ltd., a Canadian corporation (the "Issuer"). This amendment to the Schedule 13D is being filed by Tether Global Investments Fund, S.I.C.A.F., S.A. (f/k/a Tether Holdings, S.A. de C.V.), an El Salvador entity, Tether International, S.A. de C.V., an El Salvador entity, Tether Investments, and Giancarlo Devasini (collectively, the "Reporting Persons") and constitutes Amendment No. 7 to the Schedule 13D. Capitalized terms used but not defined herein have the meanings given to such terms in the Schedule 13D. Except as set forth herein, the Schedule13D is unmodified.
Item 5.	Interest in Securities of the Issuer
(a)	The Reporting Persons beneficially own an aggregate of 11,266,571 Common Shares, representing 12.1% of the outstanding Common Shares. This percentage is calculated based on 93,442,762 shares outstanding as of May 7, 2026, as reported in the Management Information Circular filed as an exhibit to the Form 6-K filed with the Securities and Exchange Commission on May 15, 2026.
(b)	Each of Tether Global Investments Fund, S.I.C.A.F., S.A. and Mr. Devasini has shared voting and dispositive power with respect to the beneficially owned 11,266,571 Common Shares. Tether International, S.A. de C.V. has shared voting and dispositive power with respect to 9,266,571 Common Shares. Tether Investments has shared voting and dispositive power with respect to 2,000,000 Common Shares.
(c)	Schedule B sets forth the transactions in the Common Shares effected by the Reporting Persons since the Reporting Persons' most recent filing on May 12, 2026.
(d)	None.
(e)	Not applicable.
Item 7.	Material to be Filed as Exhibits.
	Schedule A Executive Officers and Directors Schedule B Open Market Purchases 99.1 Agreement of filing persons relating to filing of joint statement per Rule 13d-1(k).

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Tether Global Investments Fund, S.I.C.A.F., S.A.

Signature:	/s/ Omar Rossi
Name/Title:	Omar Rossi, Sole Administrator
Date:	06/09/2026

Tether International, S.A. de C.V.

Signature:	/s/ Giancarlo Devasini
Name/Title:	Giancarlo Devasini, Sole Administrator
Date:	06/09/2026

Tether Investments, S.A. de C.V.

Signature:	/s/ Giancarlo Devasini
Name/Title:	Giancarlo Devasini, Sole Administrator
Date:	06/09/2026

Giancarlo Devasini

Signature:	/s/ Giancarlo Devasini
Name/Title:	Giancarlo Devasini, individually
Date:	06/09/2026