Sailfish Reports Record Q1 2022 Results TORTOLA, British Virgin Islands ,
Sailfish Reports Record Q1 2022 Results
TORTOLA,
British Virgin Islands
,
May 19, 2022
/CNW/ - 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, 2022
("
Q1 2022
"). All amounts are in U.S. dollars
unless otherwise indicated.
Q1 2022 Highlights:
Gold ounces earned of 389 for the three months ended
March 31, 2022
;
Revenues of
$722,564
for the three months ended
March 31, 2022
;
Gross profit of
$363,259
for the three months ended
March 31, 2022
;
Net income of
$203,454
for the three months ended
March 31, 2022
;
Repurchased and cancelled 554,000 common shares of the Company under the current normal
course issuer bid ("
NCIB
") for the three months ended
March 31, 2022
; and
Declared a quarterly dividend of
$0.0125
per common share which was paid on
April 15, 2022
.
Cesar Gonzalez
, Chief Executive Officer of Sailfish states that, "During Q1 2022, Sailfish received
and sold 389 ounces of gold from the gold stream equivalent to a 3% NSR on the San Albino gold
mine. In addition to the cash flow from the gold stream on San Albino, the Company collected
approximately
$1.12 million
from its gold-linked loan to Mako Mining Corp., which continues to
generate returns greater than originally anticipated. Sailfish expects to continue using its cash flow to
repurchase common shares under the current NCIB and to pay quarterly dividends."
Summary of Q1 2022 Results:
Three months
ended March 31,
2022
Three months
ended March 31,
2021
Condensed interim consolidated statements of comprehensive income
$
$
Revenues
722,564
10,685
Gross profit
363,259
4,566
Net income
203,454
1,955,759
Basic earnings per share
0.01
0.03
Diluted earnings per share
0.00
0.03
For complete details, please refer to the Unaudited Condensed Interim Consolidated Financial
Statements for the three months ended
March 31, 2022
and 2021 and associated Management
Discussion and Analysis for the three months ended
March 31, 2022
, available on SEDAR (
www.sedar.com
) or on the Company's website (
www.sailfishroyalty.com
).
Subsequent to Q1 2022 Highlights:
Subsequent to
March 31, 2022
, Sailfish purchased 387,200 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
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 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 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
outlook that are incorporated by reference herein, except in accordance with applicable securities
laws.
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SOURCE
Sailfish Royalty Corp.
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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 19-MAY-22