Sailfish Royalty Signs Agreement with Osisko Gold Royalties Ltd to Fully Monetize the NSR on the Tocantinzinho Gold Project for US$10,000,000
TORTOLA, July 26, 2021 - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce that it has entered into a royalty transfer agreement with Osisko Gold Royalties Ltd. ("Osisko") pursuant to which Sailfish has agreed to transfer to Osisko the remaining up to 2.75% of the Company's net smelter return royalty ("NSR") held on the Tocantinzinho gold project ("Tocantinzinho") located in northern Brazil in exchange for US$10 million in cash (the "Transaction"). Cesar Gonzalez, Chief Executive Officer of Sailfish states that, "the net proceeds from the full monetization of the NSR on Tocantinzinho are expected to continue funding the aggressive return of capital to shareholders and provide flexibility to deploy capital opportunistically in other transactions."
The Transaction is expected to close on or before August 22, 2021. The closing of the Transaction is subject to certain conditions precedent including, but not limited to, the receipt of required third-party consents.
About Sailfish
Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are three main assets in the Americas: a gold stream equivalent to a 3% NSR on the San Albino gold mine (~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 expected terms, conditions and expected closing of the Transaction. 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 Transaction will close on the terms and timing as expected by management of the Company. 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 Transaction may not close on the terms or timing as anticipated by management of the Company or at all. 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
For further information: Cesar Gonzalez, CEO, tel. 203-862-7009 or Akiba Leisman, Executive Chairman of the Board, tel. 203-862-7059