Sailfish Royalty Declares Q2 2024 Dividend

Sailfish Royalty Declares Q2 2024 Dividend

Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce that its Board of Directors has declared the Company's second quarterly cash dividend for 2024 in the amount of US$0.0125 per common share that will be payable on July 15, 2024 to Sailfish shareholders of record as of the close of business on June 30, 2024.

The declaration, timing, amount, and payment of future dividends will be subject to the discretion and approval of the Board of Directors. The Company will review the dividend policy on an ongoing basis and may amend it at any time depending on the Company's then current financial position, capital allocation framework, profitability, cash flow, legal requirements and other factors considered relevant. As such, no assurances can be made that any future dividends will be declared and/or paid. Dividend payments may be subject to withholding taxes.

The Company also announces that it has elected to settle an aggregate of US$205,000 in interest accrued up to May 24, 2024 through the issuance of an aggregate of 221,696 common shares in the capital of the Company ("Shares") at a deemed price of CDN$1.267 per Share to the holders of convertible debentures dated May 24, 2023 (the "Debentures").

Each Debenture accrues interest at a rate of 10% per annum payable semi-annually in arrears. Under the terms of the Debentures, subject to TSX Venture Exchange ("TSXV") acceptance, accrued interest is payable at the election of the Company in Shares at a price per Share equal to the greater of: (A) the twenty day average closing price of the Shares on the TSXV immediately before the date the Shares are issued in satisfaction of accrued interest; and (B) the closing price of the Shares on the TSXV on the date immediately before the date the Shares are issued in satisfaction of accrued interest.

The issuance of the Shares to Wexford Catalyst Trading Limited and Wexford Spectrum Trading Limited (the "Interested Parties") constitutes a "related party transaction" within the meaning of MI 61-101. Notwithstanding the foregoing, the directors of the Company have determined that the issuance of Shares to the Interested Parties will be exempt from the formal valuation requirements of MI 61-101 by virtue of the exemption contained in section 5.5(a) and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(1)(a) of MI 61-101 as the fair market value of the securities issued to the Interested Parties did not exceed 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing of the transaction as the details of the participation of Interested Parties had not been confirmed at that time.

The foregoing is subject to TSXV approval, the Shares will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable securities legislation.

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 3% NSR on the multi-million ounce Spring Valley gold project in Pershing County, Nevada; and a 100% interest in the Gavilanes Silver Project located in Durango State, Mexico.

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.

For further information: Paolo Lostritto, CEO, tel. 416-602-2645 or Akiba Leisman, Executive Chairman of the Board, tel. 917-558-5289.

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 completion of the settlement of accrued interest through the issuance of Shares and approval by the TSXV thereof and the Company's dividend policy and the Company's intention to pay a quarterly dividend. 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, without limitation: that the Company will receive the necessary approval from the TSXV to complete the transaction as currently contemplated and that the Company's financial position will allow it to pay quarterly dividends in accordance with the dividend policy. 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: the risk that the Company will not received the necessary approval from the TSXV to settle the accrued interest through the issuance of Shares and that a quarterly dividend will not be payable in accordance with the dividend policy or at all; and those applicable risks, uncertainties and factors set forth in the Company's disclosure record under the Company's profile on SEDAR+ at www.sedarplus.ca. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210716

News Provided by Newsfile via QuoteMedia

FISH:CA
The Conversation (0)
Sailfish Reports Q1 2024 Results

Sailfish Reports Q1 2024 Results

 

Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce its operating and financial results for the first quarter ended March 31, 2024 ("Q1 2024"). All amounts are in U.S. dollars unless otherwise indicated.

 

Q1 2024 Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Sailfish Reports Annual and Q4 2023 Results

Sailfish Reports Annual and Q4 2023 Results

 

Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce its operating and financial results for the year and fourth quarter ended December 31, 2023 ("Q4 2023"). All amounts are in U.S. dollars unless otherwise indicated.

 

2023 Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Kairos Minerals

Drilling discovers new ‘Monster’ gold zone near Main Hill at Mt York, WA

New results extend mineralisation from undrilled Main Hill area; additional drilling required to further define new zone

Kairos Minerals Ltd (ASX:KAI) (“KAI” or the “Company”) is pleased to announce results from a further 19 diamond holes, including a new, wide zone of gold mineralisation intercepted at its Mt York Gold Project in WA’s Pilbara, where current resources at the Main Trend sit at 1.4Moz Au. Results from Gossan Hill (7 holes), Breccia Hill (3 holes) and Main Hill (9 holes) (Table 1), are shown on the Leapfrog oblique-section (Figure 1) drill plan (Figure 2), long-section (Figure 3) and cross-section (Figure 4).
Keep reading...Show less
The Gold Standard: Facts and History

The Gold Standard: Facts and History

The gold standard. Today, the term denotes something that is the highest level of quality in its category.

Gold, with all its luster, has been sought after, fought over and prized for thousands of years. It’s been used as a sacred adornment and has projected the wealth and status of monarchs and nobility. And ever since the ancient Lydians minted the first gold coins around 550 BCE, the yellow metal has played an important role in the monetary system.

Over the millennia, gold has never lost its appeal, and by the end of the 19th century it had become a crucial component of how nations interacted with each other economically.

Keep reading...Show less
Asra Minerals

Asra Minerals

Keep reading...Show less
North Bay Resources Advances Development of Massive Sulphide Zone at Fran Gold Project, British Columbia

North Bay Resources Advances Development of Massive Sulphide Zone at Fran Gold Project, British Columbia

 

North Bay Resources, Inc. (the " Company " or " North Bay ") (OTC: NBRI) is pleased to announce initial test mining has been completed at the Company's Fran Gold Project, British Columbia. Development commenced at the location of a massive sulphide surface outcrop with recent assay of 0.5 ounce per ton gold (June 2025). The massive sulphide surface zone is between trenches of known high grade gold mineralization and is now the focus of development. Ore has been extracted in the directions of Trench B to the West, Trench C to the East, into the hillside to the North and at depth. The ore is heavily mineralized containing gold, copper, and silver mineralization primarily in the form of chalcopyrite, marcasite, and spherulitegalena. The massive sulphide ore is grey in color, blocky when broken with visual mineralization and veinlets or otherwise heavily oxidized with similar characteristics. Grade has been confirmed in recent assay as well as previous assays in Trenches B + C up to 2.27 ounces per ton gold ( see Press Release dated June 16, 2025). Near surface sediment has been stripped and approximately 10 tons of ore has been extracted and packed into supersacks. Additional loading of ore will recommence in approximately 10 days with an expanded crew followed by shipment by tractor trailers to the Company's Bishop Gold Mill for processing. The Company plans to continue development work into the Fall.

 

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Fortune Bay Announces Option Agreement for the Woods Uranium Projects

Fortune Bay Announces Option Agreement for the Woods Uranium Projects

Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce that it has entered into a definitive option agreement (the "Agreement"), dated July 25, 2025, with Neu Horizon Uranium Limited ACN 653 749 145 (the "Optionee"), a private Australian arms-length party. Pursuant to the Agreement, the Optionee will be granted the option (the "Option") to acquire an eighty percent interest in The Woods Uranium Projects ("The Woods" or the "Projects") located on the northern margin of the Athabasca Basin, Saskatchewan (Figure 1).

Figure 1: The Woods Uranium Projects – District-Scale Opportunity (CNW Group/Fortune Bay Corp.)

Figure 1: The Woods Uranium Projects – District-Scale Opportunity (CNW Group/Fortune Bay Corp.)

Keep reading...Show less

Latest Press Releases

Related News

×