TORTOLA, British Virgin
Islands, July 26, 2021 /CNW/ -
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.