Sailfish Receives Remaining US$3 Million from the Monetization of a Portion of the NSR on the Tocantinzinho Gold Project and Receives First Delivery from the San Albino Gold Stream
TORTOLA, May 12, 2021 - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce that, further to its news release dated March 17, 2021, it has received the remaining US$3 million in connection with the royalty transfer agreement (the "Transaction") whereby a post-buy-down interest of 0.75% of the Company's up to 3.5% NSR held on the Tocantinzinho gold project located in northern Brazil has been transferred to Metalla Royalty & Streaming Ltd. The Company has now received full payment of the US$9 million in purchase consideration in connection with the Transaction. Additionally, Sailfish is pleased to announce that it has received the first delivery from its gold stream equivalent to a 3% NSR on the San Albino gold project located in northern Nicaragua.
Cesar Gonzalez, Chief Executive Officer of Sailfish states that, "the receipt of the final cash payment from the Transaction and the first delivery from the San Albino gold stream will further bolster the Company's balance sheet and provide the means to continue repurchasing shares, facilitate the planned spinout of the Gavilanes silver property and explore paying a dividend."
About Sailfish
Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are three main assets on advanced stage projects in the Americas: a gold stream equivalent to a 3% NSR on the San Albino gold project (~3.5 sq. km) and a 2% NSR on the rest of the area (~134.5 sq. km) surrounding San Albino in northern Nicaragua; an up to 2.75% NSR on the Tocantinzinho gold project in the prolific Tapajos district of northern Brazil; and an up to 3% NSR on the multi-million ounce Spring Valley gold project in Pershing County, Nevada.
Sailfish is listed on the TSX Venture Exchange under the symbol "FISH" and on the OTCQX under the symbol "SROYF". Please visit the Company's website at www.sailfishroyalty.com for additional information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary statement regarding forward-looking information
Certain disclosures in this release constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements regarding the Company's expectation that the San Albino gold project is nearing or in production, the continuance of the Company's normal course issuer bid, the Company's plans for the spinout or monetization of the Gavilanes silver property and the potential payment of a dividend. In making the forward-looking statements in this news release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the San Albino gold project is in or nearing production, the continuance of the Company's normal course issuer bid, the Company's plans for the spinout or monetization of the Gavilanes silver property and regarding the payment of a dividend. However, the forward-looking statements in this news release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including without limitation: that the San Albino gold project is not nearing production or will not achieve production at all, that the Company will continue to fund its normal course issuer bid from the proceeds of the Transaction, that the spinout or monetization of the Gavilanes silver property will not happen and that the payment of dividend will not happen. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
SOURCE Sailfish Royalty Corp.
Contact
Cesar Gonzalez, CEO, tel. 203-862-7009 or Akiba Leisman, Executive Chairman of the Board, tel. 203-862-7059.