Metalla Royalty & Streaming Ltd 2025年度报告

Washington, D.C. 20549 FORM 40-F ☐Registration statement pursuant to Section 12 of the Securities Exchange Act of 1934or Not Applicable(I.R.S. EmployerIdentification No.) Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Actduring the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act. If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if theregistrant has elected not to use the transition period for complying with any new or revised financial accounting standards provided Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ EXPLANATORY NOTE Metalla Royalty & Streaming Ltd. ("we", "us", "our", "Metalla" or the "Company") is a Canadian corporation that ispermitted, under a multijurisdictional disclosure system adopted by the United States, to prepare this Annual Report on Form 40-F("Annual Report") pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), in accordance FORWARD LOOKING STATEMENTS This Annual Report, including the Exhibits incorporated by reference into this Annual Report, contains "forward-lookinginformation"and"forward-looking statements"(collectively,"forward-looking statements")within the meaning of applicablesecurities legislation. The forward-looking statements are provided as of the date of this Annual Report and the Company does not All statements included herein that address events or developments that we expect to occur in thefuture are forward-lookingstatements. Generally, forward-looking statements can be identified by the use of forward-lookingterminology such as "plans","expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts","intends", "anticipates" or "does not The forward-looking statements are based on reasonable assumptions that have been made by Metalla as at the date hereofand are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, risks related to commodity price fluctuations; the absence of control over mining operations from which Metalla will purchase precious metals pursuant to gold streams,silver streams and other agreements (collectively, "Streams" and each individually a "Stream") or from which it will receiveroyalty payments pursuant to net smelter returns ("NSR Royalties"), gross overriding royalties ("GOR Royalties"), grossvalue royalties ("GVR Royalties") and other royalty agreements or interests (collectively, "Royalties" and each individually a risks related to exchange rate fluctuations; that payments in respect of Streams and Royalties may be delayed or may never be made; risks related to Metalla's reliance on public disclosure and other information regarding the mines or projects underlying itsStreams and Royalties; that some Royalties or Streams may be subject to confidentiality arrangements that limit or prohibit disclosure regardingthose Royalties and Streams; business opportunities that become available to, or are pursued by, Metalla; that Metalla's cash flow is dependent on the activities of others; that some Royalty and Stream interests are subject to rights of other interest-holders; that Metalla's Royalties and Streams may have unknown defects;risks related to Metalla's two material assets, the Côté and Gosselin gold property (the "Côté Property") and the Taca Tacacopper-gold-molybdenum project (the "Taca Taca Property");risks related to global financial conditions;risks related to geopolitical events and other uncertainties, such as the conflict in the Middle East and Ukraine; risks related to epidemics, pandemics or other public health crises, and the spread of viruses or patho