Sailfish Royalty Corp. Closes Transaction to Fully Monetize the NSR on the Tocantinzinho Gold Project for US$10,000,000
TORTOLA, Aug. 19, 2021 - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce that, further to its news release dated July 26, 2021, it has closed the royalty transfer transaction whereby Sailfish has transferred to Osisko Gold Royalties Ltd. the remaining up to 2.75% of the Company's net smelter return royalty ("NSR") held on the Tocantinzinho gold project located in northern Brazil in exchange for US$10 million in cash. Cesar Gonzalez, Chief Executive Officer of Sailfish states that, "following today's close, Sailfish has approximately US$13 million of cash, no debt and has been receiving an increasing amount of cash flow from the stream equivalent to a 3% NSR on the San Albino gold mine. In addition to share repurchases, which total over 6.8 million shares since June 2019, Sailfish is now ready to begin paying a dividend to shareholders and expects to announce a formal policy shortly. The Company also continues to review opportunities to deploy capital in other transactions."
About Sailfish
Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are two 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; 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 to announce a formal dividend policy shortly. 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 it expects to announce a formal dividend policy shortly. 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 a formal dividend policy may not be announced shortly. 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
