TORTOLA, British Virgin Islands , April 5, 2021 /CNW/ – Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the “Company” or “Sailfish”) announces that it has filed with the TSX Venture Exchange (the “Exchange”) a notice of its intention to amend its previously announced Normal Course Issuer Bid (the “Bid”) to increase the number of common shares of the Company (the “Shares”) which the Company may repurchase for cancellation under the bid from 2,963,322 to 3,782,322 Shares representing 5% of the Company’s 75,646,451 Shares issued and outstanding as of October 2, 2020.
Other than the increase to the maximum number of Shares which may be purchased by the Company pursuant to the Bid, no further amendments have been made to the Bid, and the Bid is still set to terminate on July 6, 2021 . For further details regarding the Bid, please refer to the Company’s prior news release dated October 6, 2020 .
The Board of Directors of the Company continue to believe that the recent market prices of the Shares do not properly reflect the underlying value of such shares. As a result, depending upon future price movements and other factors, the Board believes that the purchase of the Shares would be an appropriate use of corporate funds and in the best interests of the Company and its shareholders. Furthermore, the purchases are expected to benefit all persons who continue to hold Shares by increasing their equity interest in the Company if the repurchased Shares are cancelled.
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 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.
SOURCE Sailfish Royalty Corp.
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