Sailfish Royalty Corp. (TSX-V: FISH) (OTCQX: SROYF) is pleased to announce that it has entered into a royalty transfer agreement with Metalla Royalty & Streaming Ltd. to transfer a 0.75% post-buy-down interest of the Company’s up to 3.5% net smelter return royalty held on the Tocantinzinho gold project located in northern Brazil for total consideration of US$9 million in cash.
Cesar Gonzalez, Chief Executive Officer of Sailfish states that, “the monetization of a portion of the NSR on Tocantinzinho provides the funds necessary to execute on key strategic initiatives at Sailfish. Specifically, the net proceeds will be used to repay all debt outstanding, fund the purchase of approximately 1.1 million common shares remaining under the normal course issuer bid and provide the seed capital to successfully spinout the Gavilanes silver property into a separate publicly traded company.”
The Transaction is expected to close on or before March 19, 2021 (“Closing Date”). The Purchase Consideration will be paid to Sailfish as follows: US$6 million on the Closing Date and US$3 million within 60 days from the Closing Date.
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 3.5% NSR (2.75% NSR post-Transaction) 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.
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