Sailfish Reports Record Q2 2024 Results and Engages Renmark Financial Communications Inc.
Sailfish Reports Record Q2 2024 Results and
Engages Renmark Financial Communications
Inc.
Tortola, British Virgin Islands--(Newsfile Corp. - August 21, 2024) - Sailfish Royalty Corp. (TSXV: FISH)
(OTCQX: SROYF) (the "
Company
" or "
Sailfish
") is pleased to announce its operating and financial
results for the second quarter ended June 30, 2024 ("
Q2 2024
"). All amounts are in U.S. dollars unless
otherwise indicated.
Q2 2024 Highlights:
Gold ounces earned from stream interests of 365 and 456 for the three and six months ended June
30, 2024 (268 and 628 for the three and six months ended June 30, 2023);
Royalty revenue earned of $167,844 and $329,831 for the three and six months ended June 30,
2024 ($nil for the three and six months ended June 30, 2023);
Total revenues of $1,026,242 and $1,384,197 for the three and six months ended June 30, 2024
($529,648 and $1,206,126 for the three and six months ended June 30, 2023);
Gross profit of $565,681 and $813,768 for the three and six months ended June 30, 2024
($292,348 and $658,528 for the three and six months ended June 30, 2023);
Net income of $1,141,470 and $1,289,505 for the three and six months ended June 30, 2024 (net
loss of $434,676 and $1,044,232 for the three and six months ended June 30, 2023);
Repurchased for cancellation an aggregate of 983,400 common shares of the Company under the
current normal course issuer bid for the six months ended June 30, 2024 (322,200 for the six
months ended June 30, 2023); and
Declared quarterly dividends of $0.0125 per common share on March 22, 2024 and May 28,
2024, which were paid on April 15, 2024 and July 15, 2024, respectively.
Summary of Quarterly Results:
Three months
ended June 30,
2024
Three months
ended June 30,
2023
Six months
ended June 31,
2024
Six months
ended June 31,
2023
Condensed interim consolidated statements of
comprehensive income (loss)
$
$
Revenues
1,026,242
529,648
1,384,197
1,206,126
Gross profit
565,681
292,348
813,768
658,528
Net income (loss)
1,141,470
(434,676
)
1,289,505
(1,044,232
)
Basic loss per share
0.02
(0.01
)
0.02
(0.01
)
Diluted loss per share
0.02
(0.01
)
0.02
(0.01
)
For complete details, please refer to the Unaudited Condensed Interim Consolidated Financial
Statements for the three and six months ended June 30, 2024 and 2023 and associated Management
Discussion and Analysis for the three and six months ended June 30, 2024, available on SEDAR+
(
www.sedarplus.ca
) or on the Company's website (
www.sailfishroyalty.com
).
Subsequent to Q2 2024 Highlights:
On July 19, 2024, the Company announced that the TSX-V had accepted a notice filed by the
Company of its intention to make a normal course issuer bid to be transacted through the facilities
of the TSXV. The notice provides that the Company may, during the 12-month period commencing
July 22, 2024 and ending July 21, 2025, purchase up to 3,539,756 common shares of the
Company in total, being approximately 5% of the total number of shares outstanding as at July 16,
2024.
Subsequent to June 30, 2024, the Company received 15,010 ounces of silver pertaining to its
Silver Receivable.
Subsequent to June 30, 2024, the Company cancelled 214,100 common shares.
Subsequent to June 30, 2024, the Company purchased 266,400 common shares on-market under
the Company's normal course issuer bid.
Renmark Financial Communications Inc.
The Company is pleased to announce that it has retained the services of Renmark Financial
Communications Inc. ("
Renmark
") to expand its investor relations activities.
"
We are pleased to announce that we have added Renmark to reinforce the Company's message with
the investment community and enhance the visibility of our company as the Spring Valley Gold
Project approaches final permits. We chose Renmark because of its track record of reaching
institutional investors and family offices.
" - Paolo Lostritto, Chief Executive Officer.
In consideration of the services to be provided, the monthly fees incurred by the Company will be a cash
consideration of up to CAD$8,000, starting August 20, for a period of seven months ending on March
20, 2025.
Renmark does not have any interest, directly or indirectly, in Sailfish or its securities, or any right or intent
to acquire such an interest. This agreement is subject to the approval of the TSX-V.
About Renmark Financial Communications Inc.
Founded in 1999, Renmark is a privately held full-service investor relations firm, located in Atlanta, New
York, Toronto and Montreal.
For the past 25 years, Renmark has provided services in investor relations,
media relations and web development representing small, medium and large cap public companies
listed on all major North American exchanges.
On a daily basis our team of professionals enhance our
client's visibility within the retail market space as corporate communicators.
With the largest roadshow
footprint in North America, and a state-of-the-art media studio, we host a multitude of live streaming
Virtual Non-Deal Roadshows across North America and Europe.
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 Bryan McKenzie, CFO, tel. 604-
443-3834, or
Renmark Financial Communications Inc.
Ben Ozerkevich:
Tel.: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/220623