Sailfish Reports Record Annual and Q4 2021 Results TORTOLA, British Virgin Islands ,
Sailfish Reports Record Annual and Q4 2021
Results
TORTOLA,
British Virgin Islands
,
April 20, 2022
/CNW/ - 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, 2021
("
Q4 2021
"). All amounts are in U.S. dollars unless otherwise
indicated.
Cesar Gonzalez
, Chief Executive Officer of Sailfish states that, "Sailfish had a fantastic year highlighted by the
receipt of 823 ounces of gold, primarily from the gold stream equivalent to a 3% NSR on the San Albino gold
mine that declared commercial production in
July 2021
. We look forward to a full year of commercial production
at San Albino as well as further details on the anticipated ramp up in milling capacity expected in 2023. We are
also thrilled to report that we have declared and paid three quarterly dividends of
$0.0125
per common share
and rank among the highest dividend payers (ranked by yield) in the precious metals royalty sector."
2021 Highlights:
Gold ounces earned of 823 for the year ended
December 31, 2021
;
Revenues of
$1,475,283
for the year ended
December 31, 2021
;
Gross profit of
$780,977
for the year ended
December 31, 2021
;
Net income of
$3,268,873
for the year ended
December 31, 2021
;
Repurchased for cancellation an aggregate of 3,316,022 common shares of the Company under the
current normal course issuer bid for the year ended
December 31, 2021
;
Transferred an up to 2.75% NSR on the Tocantinzinho project to Osisko Gold Royalties Ltd for
$10 million
and a 0.75% NSR on the Tocantinzinho project to Metalla Royalty & Streaming Ltd. for
$9 million
;
Declared a Q3 2021 and Q4 2021 quarterly dividend of
$0.0125
per common share which were paid on
October 15, 2021
and
January 17, 2022
, respectively;
Entered into a binding letter of intent with
1287398 B
.C. Ltd. ("
Pubco
") to complete a transaction with
Pubco (the "
Proposed Transaction
") with the goal of creating a silver focused exploration and
development company; and
Entered into a loan agreement with Mako Mining Corp., providing an
$8 million
unsecured gold-linked term
loan in exchange for 24 monthly cash payments equal to the equivalent of 205 ounces of gold multiplied by
the preceding month's average gold price with a floor of
$1,750
and a ceiling of
$2,000
.
Summary of Annual Results:
Year ended
December
31, 2021
Year ended
December
31, 2020
Consolidated statements of comprehensive income (loss)
$
$
Revenues
1,475,283
94,657
Gross profit
780,977
31,106
Net income (loss)
3,268,873
(4,592,974)
Net income (loss) per share (basic and diluted)
0.04
(0.07)
Q4 2021 Highlights:
Gold ounces earned of 394 for the three months ended
December 31, 2021
;
Revenues of
$702,687
for the three months ended
December 31, 2021
;
Gross profit of
$372,964
for the three months ended
December 31, 2021
; and
Net loss of
$486,936
for the three months ended
December 31, 2021
.
Summary of Quarterly Results:
Three months
ended December
31, 2021
Three months
ended December
31, 2020
Condensed interim consolidated statements of
comprehensive income (loss)
$
$
Revenues
703,242
24,493
Gross profit
372,964
6,951
Net income (loss)
(486,936)
(899,862)
Net income (loss) per share (basic and diluted)
(0.01)
(0.01)
For complete details, please refer to the Annual Consolidated Financial Statements for the years ended
December 31, 2021
and 2020 and associated Management Discussion and Analysis for the year ended
December 31, 2021
, available on SEDAR (
www.sedar.com
) or on the Company's website (
www.sailfishroyalty.com
).
Subsequent to Q4 2021 Highlights:
Subsequent to
December 31, 2021
, the Company declared and paid a dividend of
$0.0125
per common
share.
Subsequent to
December 31, 2021
, Sailfish purchased 554,000 common shares on-market and cancelled
864,900 common shares.
Subsequent to
December 31, 2021
, Sailfish purchased 27,000 common shares on-market, which have not
been cancelled.
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 expectation that the Proposed Transaction will complete on the terms as
anticipated by management and the expectation that the Company will pay quarterly dividends in line with the
Company's annual dividend policy. 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 the Proposed Transaction will complete on the terms as anticipated by management and that the
Company will pay quarterly dividends in line with the Company's annual 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 that the Proposed Transaction will not complete on the terms as
anticipated by management or at all and that the Company will not pay quarterly dividends in line with the
Company's annual dividend policy or at all. 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.
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SOURCE
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%SEDAR: 00044073E
For further information:
Cesar Gonzalez, CEO, tel. 203-570-1039 or Bryan McKenzie, CFO, tel. 604-443-
3834.
CO: Sailfish Royalty Corp.
CNW 07:30e 20-APR-22