UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2024
Commission File Number: 001-41484
TRIPLE FLAG PRECIOUS METALS CORP.
(Translation of the registrant’s name
into English)
TD Canada Trust Tower, 161 Bay Street, Suite 4535,
Toronto, Ontario, Canada M5J 2S1
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F ¨ Form 40-F x
Exhibits 99.1 of this Form 6-K are incorporated
by reference into Triple Flag Precious Metals Corp.’s registration statements on Form F-10 (File No. 333-279789) and Form S-8
(File No. 333-267209).
The following document, which is attached as an exhibit hereto, is
incorporated by reference herein:
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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TRIPLE FLAG PRECIOUS METALS CORP. |
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| Date: November 13, 2024 |
By: |
/s/ C. Warren Beil |
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Name: |
C. Warren Beil |
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Title: |
General Counsel |
Exhibit 99.1
NEWS RELEASE
Toronto, November 13, 2024
Triple Flag Receives Approval
for Normal Course Issuer Bid Renewal
Triple Flag Precious Metals Corp.
(with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, NYSE:TFPM) announced today that the Toronto
Stock Exchange (the “TSX”) has accepted the notice filed by Triple Flag to renew its normal course issuer bid (the “NCIB”).
Under the NCIB, Triple Flag is
authorized to purchase up to 10,071,642 of its common shares (the “Common Shares”) (out of the 201,432,843 Common Shares issued
and outstanding as at November 1, 2024), representing 5% of Triple Flag’s issued and outstanding Common Shares, during the
period starting on November 15, 2024 and ending on November 14, 2025.
In deciding to establish the NCIB,
Triple Flag believes that the purchase of Common Shares from time to time can be undertaken at prices that make the acquisition of such
Common Shares an appropriate use of Triple Flag’s available funds and an appropriate mechanism for returning capital to its shareholders.
Triple Flag may make any purchases
through the facilities of the TSX, the New York Stock Exchange (the “NYSE”) and alternative trading systems, if eligible,
or by such other means as may be permitted by the TSX, the NYSE or under applicable law by a registered investment dealer (or an affiliate
of the dealer), including private agreement purchases or share purchase program agreement purchases if Triple Flag receives, if applicable,
an issuer bid exemption order in the future from applicable securities regulatory authorities in Canada for such purchases. Daily repurchases
on the TSX will be limited to a maximum of 39,117 Common Shares, representing 25% of the average daily trading volume on the TSX of 156,469
Common Shares for the period from May 1, 2024, to October 31, 2024 (net of repurchases made by Triple Flag during that time
period), except where purchases are made in accordance with the “block purchase exception” of the TSX rules. Rule 10b-18
of the United States Securities Exchange Act of 1934 contains similar volume-based restrictions on daily purchases on the NYSE, subject
to certain exceptions for block repurchases. All Common Shares that are repurchased by Triple Flag under the NCIB will be cancelled.
Purchase and payment for the Common
Shares will be made by Triple Flag in accordance with the requirements of the TSX and applicable Canadian and United States securities
laws. The price that Triple Flag will pay for the Common Shares in open market transactions acquired by it will be the market price of
the Common Shares at the time of acquisition or such other price as may be permitted by the TSX. Any private agreement purchases made
under an exemption order, if applicable, may be at a discount to the prevailing market price.
Triple Flag has also entered into
an automatic share purchase plan (the “ASPP”) with the designated broker responsible for the NCIB to allow for the purchase
of Common Shares under the NCIB at times when Triple Flag would ordinarily not be permitted to purchase its Common Shares due to regulatory
restrictions and customary self-imposed blackout periods.
Pursuant to the ASPP, prior to
entering into a blackout period, Triple Flag may, but is not required to, instruct the designated broker to make purchases under the NCIB
in accordance with the terms of the ASPP. Such purchases will be determined by the designated broker in its sole discretion based on parameters
established by Triple Flag prior to the blackout period in accordance with the rules of the TSX, the NYSE, applicable securities
laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and will be implemented effective January 1, 2025.
Outside of the pre-determined
blackout periods, Common Shares may be purchased under the NCIB based on the discretion of Triple Flag’s management, in compliance
with the rules of the TSX, the NYSE and applicable securities laws. All repurchases made under the ASPP will be included in computing
the number of Common Shares purchased under the NCIB.
Although Triple Flag has a present
intention to acquire its Common Shares pursuant to the NCIB, Triple Flag will not be obligated to make any purchases and purchases may
be suspended by Triple Flag at any time. Decisions regarding any future repurchases will depend on certain factors, such as market conditions,
share price and other opportunities to invest capital for growth. Triple Flag may elect to suspend or discontinue share repurchases at
any time, in accordance with applicable laws.
For
its NCIB that began on November 15, 2023, and expires on November 14, 2024, Triple Flag previously sought and received approval
from the TSX to repurchase up to 10,078,488 of its Common Shares. Of this amount, Triple Flag has repurchased a total of 582,800
Common Shares, consisting of 575,500 Common Shares purchased through
the facilities of the TSX for a total cost of approximately C$10.5 million (representing an average
cost of C$18.27 per Common Share) and 7,300 Common Shares purchased
through the facilities of the NYSE for a total cost of approximately US$98,623 (representing an average
cost of US$13.51 per Common Share). Triple Flag repurchased the Common Shares through the facilities
of the TSX, the NYSE and alternative trading systems.
About Triple Flag Precious
Metals
Triple Flag is a pure play, precious-metals-focused
streaming and royalty company. We offer bespoke financing solutions to the metals and mining industry with exposure primarily to gold
and silver in the Americas and Australia, with a total of 235 assets, including 16 streams and 219 royalties. These investments are tied
to mining assets at various stages of the mine life cycle, including 30 producing mines and 205 development and exploration stage projects,
and other assets. Triple Flag is listed on the Toronto Stock Exchange and New York Stock Exchange, under the ticker “TFPM”.
Contact Information
Investor Relations:
David Lee
Vice President, Investor
Relations
Tel: +1 (416) 304-9770
Email:
ir@tripleflagpm.com
Media:
Gordon Poole, Camarco
Tel: +44 (0) 7730 567 938
Email:
tripleflag@camarco.co.uk
Forward-Looking Information
This news release contains “forward-looking
information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning
of the United States Private Securities Litigation Reform Act of 1995, respectively (collectively referred to herein as “forward-looking
information”). Forward-looking information may be identified by the use of forward-looking terminology such as “plans”,
“targets”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”,
“outlook”, “forecasts”, “projection”, “prospects”, “strategy”, “intends”,
“anticipates”, “believes” or variations of such words and phrases or terminology which states that certain actions,
events or results “may”, “could”, “would”, “might”, “will”, “will be
taken”, “occur” or “be achieved”. Forward-looking information in this news release includes, but is not
limited to, statements with respect to repurchases of our common shares. In addition, any statements that refer to expectations, intentions,
projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking
information are not historical facts but instead represent management’s expectations, estimates and projections regarding possible
future events or circumstances.
The forward-looking information
included in this news release is based on our opinions, estimates and assumptions considering our experience and perception of historical
trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable
in the circumstances. The forward-looking information contained in this news release is also based upon a number of assumptions, including
the ongoing operation of the properties in which we hold a stream or royalty interest by the owners or operators of such properties in
a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying
properties; and the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production.
These assumptions include, but are not limited to, the following: assumptions in respect of current and future market conditions and the
execution of our business strategies, that operations, or ramp-up where applicable, at properties in which we hold a royalty, stream or
other interest, continue without further interruption through the period, and the absence of any other factors that could cause actions,
events or results to differ from those anticipated, estimated, intended or implied. Despite a careful process to prepare and review the
forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct.
Forward-looking information is also subject to known and unknown risks, uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information.
Such risks, uncertainties and other factors include, but are not limited to, those set forth under the caption “Risk Factors”
in our most recently filed annual information form, which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. In addition,
we note that mineral resources that are not mineral reserves do not have demonstrated economic viability and inferred resources are considered
too geologically speculative for the application of economic considerations.
Although we have attempted to
identify important risk factors that could cause actual results or future events to differ materially from those contained in the forward-looking
information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause
actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance
that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only as of the date
made. The forward-looking information contained in this news release represents our expectations as of the date of this news release and
is subject to change after such date. We disclaim any intention or obligation or undertaking to update or revise any forward-looking information
whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All of the forward-looking
information contained in this news release is expressly qualified by the foregoing cautionary statements.
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