SCHEDULE: Tether Entities Adjust Metalla Royalty Stake

Tether Global Investments Fund and its subsidiaries report an amendment to their Schedule 13D filing concerning their beneficial ownership of Metalla Royalty & Streaming Ltd. common shares.

Summary

• This filing is an amendment (Amendment No. 8) to a previously filed Schedule 13D concerning Metalla Royalty & Streaming Ltd. common shares.
• The reporting persons include Tether Global Investments Fund, S.I.C.A.F., S.A., Tether International, S.A. de C.V., Tether Investments, S.A. de C.V., and Giancarlo Devasini.
• On June 12, 2026, Tether Investments transferred 2,095,216 common shares to Tether International, S.A. de C.V.
• This transfer did not change the aggregate number of shares beneficially owned by the reporting persons.
• The reporting persons collectively beneficially own 11,489,175 common shares, representing 12.3% of the outstanding shares.
• This percentage is based on 93,442,762 shares outstanding as of May 7, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, primarily reporting an internal share transfer among related entities without indicating a change in overall beneficial ownership or providing new operational or financial insights into Metalla Royalty & Streaming Ltd.

Positives

• The reporting persons maintain a significant stake of 12.3% in Metalla Royalty & Streaming Ltd., indicating continued investment interest.
• The internal transfer of shares among related entities suggests a restructuring or consolidation of holdings rather than a reduction in overall beneficial ownership.

Negatives

• The filing does not provide specific financial performance data for Metalla Royalty & Streaming Ltd., focusing solely on ownership changes.
• Past regulatory actions against Tether entities (CFTC and NYAG settlements) are noted, which could be a concern for some investors regarding corporate governance or stability.

Risks

• Past regulatory actions against Tether entities, including settlements with the CFTC and NYAG, could pose reputational or operational risks.
• The concentration of ownership among a few related entities and individuals could lead to governance concerns if not managed transparently.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding Metalla Royalty & Streaming Ltd.'s future performance. It solely focuses on reporting changes in beneficial ownership.

Management Comments

• "Except as set forth herein, the Schedule13D is unmodified."
• "The Transfer resulted in no change in the aggregate number of Common Shares beneficially owned by the Reporting Persons."
• "The reporting person disclaims beneficial ownership of these shares except to the extent of the reporting person's pecuniary interest."

Industry Context

StockSavvy.ai notes that this Schedule 13D filing amendment by Tether entities indicates a significant, ongoing investment in Metalla Royalty & Streaming Ltd., a company operating in the royalty and streaming sector of the mining industry. Such filings are crucial for understanding major shareholder movements and potential influence.

Corporate Governance

Legal Proceedings

• In October 2021, the U.S. Commodity Futures Trading Commission (CFTC) instituted and settled regulatory proceedings against Tether Global Investments Fund, S.I.C.A.F., S.A. (then Tether Holdings Limited), Tether Limited, Tether Operations Limited, and Tether International Limited, resulting in a civil monetary penalty of $41 million.
• In February 2021, the Office of the Attorney General of the State of New York (NYAG) entered into an agreement with Tether and several Bitfinex companies to settle a 2019 proceeding, requiring payment of $18.5 million in penalties and discontinuing trading activity with New York persons or entities.

Related Party Transactions

• On June 12, 2026, Tether Investments, S.A. de C.V. transferred 2,095,216 Common Shares to Tether International, S.A. de C.V.

Stakeholder Impact

• Shareholders of Metalla Royalty & Streaming Ltd.: The filing confirms continued significant ownership by Tether-related entities, which may influence market perception and potential future strategic actions.
• Creditors and Counterparties of Tether Entities: Past regulatory actions and settlements may raise concerns about the financial stability and compliance practices of the reporting persons.

Next Steps

• Continued monitoring of future Schedule 13D filings by Tether entities for any further changes in beneficial ownership of Metalla Royalty & Streaming Ltd.

Key Dates

Keywords

Metalla Royalty & Streaming Ltd., Schedule 13D, Tether Global Investments Fund, Tether International, Tether Investments, Giancarlo Devasini, beneficial ownership, common shares, SEC filing, amendment