Sailfish Announces Amendment and Increase to Normal Course Issuer Bid TORTOLA, British Virgin Islands ,
Sailfish Announces Amendment and Increase
to Normal Course Issuer Bid
TORTOLA,
British Virgin Islands
,
Sept. 5, 2019
/CNW/ - Sailfish Royalty Corp. (TSX-V: FISH)
(the "Company" or "Sailfish") announces that the TSX Venture Exchange (the "Exchange") has
accepted a notice filed by the Company 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 1,918,678
Shares, or 5% of the Company's issued and outstanding Shares as of the date of commencement of
the Bid, to 2,974,522 Shares, representing 5% of the Company's 59,490,456 Shares issued and
outstanding as of
August 27, 2019
.
Under the Bid, which commenced on
June 24, 2019
, the Company has repurchased and cancelled a
total of 1,701,800 Shares at a weighted average price of
$1.310
per Share as of the date hereof.
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 June 24, 2020. For further details regarding the Bid, please refer to the
Company's prior news release dated
June 19, 2019
.
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.
About Sailfish
Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are two
cornerstone 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
; and an up to 3.5% NSR on the Tocantinzinho gold
project in the prolific Tapajos district of northern
Brazil
. The acquisition of Terraco Gold Corp. adds a
potential cornerstone asset: 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 & Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements
and information that may constitute forward-looking information within the meaning of applicable
Canadian securities laws. All statements in this news release, other than statements of historical
facts, including statements regarding future estimates, plans, objectives, timing, assumptions or
expectations of future performance, including the statement that the Company will complete the
purchases of the Shares pursuant to the Bid and that the purchases made pursuant to the Bid 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 are forward-looking statements and contain
forward-looking information. Generally, forward-looking statements and information can be
identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations
of such words and phrases or statements that certain actions, events or results "may", "could",
"should", "would" or "occur". Forward-looking statements are based on certain material
assumptions and analysis made by the Company and the opinions and estimates of management
as of the date of this press release, including that the Company will be able to complete the
purchases of the Shares pursuant to the Bid and that the purchases made pursuant to the Bid will
benefit all persons who continue to hold Shares by increasing their equity interest in the Company
if the repurchased Shares are cancelled. These forward-looking statements are subject to known
and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking statements or forward-looking information. Important
factors that may cause actual results to vary, include, without limitation, that the Company will not
be able to complete the purchases of the Shares pursuant to the Bid and that the purchases made
pursuant to the Bid will not benefit all persons who continue to hold Shares. Although management
of the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements or forward-looking information, there
may be other factors that cause results not to be as anticipated, estimated or intended. 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.
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For further information:
Akiba Leisman, CEO, tel. 203-862-7059 or Cesar Gonzalez, Director and
Vice President of Corporate Development, tel. 203-862-7009.
CO: Sailfish Royalty Corp.
CNW 08:30e 05-SEP-19