TORTOLA, British Virgin
Islands, Aug. 19, 2021 /CNW/ -
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.