Sailfish Reports Solid Q2 2022 Results TORTOLA, British Virgin Islands ,
Sailfish Reports Solid Q2 2022 Results
TORTOLA,
British Virgin Islands
,
July 28, 2022
/CNW/ - Sailfish Royalty Corp. (TSXV: FISH)
(OTCQX: SROYF) (the "
Company
" or "
Sailfish
") is pleased to announce its operating and financial
results for the three and six months ended
June 30, 2022
("
Q2 2022
"). All amounts are in U.S.
dollars unless otherwise indicated.
Q2 2022 Highlights:
Gold ounces earned of 345 and 734 for the three and six months ended
June 30, 2022
;
Revenues of
$646,859
and
$1,369,424
for the three and six months ended
June 30, 2022
;
Gross profit of
$349,757
and
$713,017
for the three and six months ended
June 30, 2022
;
Net loss of
$885,833
and
$682,380
for the three and six months ended
June 30, 2022
;
Repurchased for cancellation an aggregate of 499,100 and 1,053,100 common shares (of
which 941,000 were cancelled prior to
June 30, 2022
) of the Company under the current normal
course issuer bid ("
NCIB
") for the three and six months ended
June 30, 2022
; and
Declared quarterly dividends of
$0.0125
per common share on
March 7, 2022
and
June 1, 2022
which were paid on
April 15, 2022
and
July 15, 2022
, respectively.
Cesar Gonzalez
, Chief Executive Officer of Sailfish states that, "Sailfish had a great first half of the
year which included receiving and selling 734 ounces of gold resulting in approximately
$1.37 million
in revenue and collecting approximately
$2.29 million
from its gold-linked loan to Mako Mining Corp.
Sailfish expects to continue using its cash flow to return capital to shareholders by repurchasing
shares under the current NCIB and by paying quarterly dividends."
Summary of Quarterly Results:
Three months
ended June
30, 2022
Three months
ended June
30, 2021
Six months
ended June
30, 2022
Six months
ended June
30, 2021
Condensed interim consolidated statements
of comprehensive (loss) income
$
$
$
$
Revenues
646,859
120,168
1,369,424
130,852
Gross profit
349,757
63,435
713,017
68,000
Net income (loss)
(885,833)
(1,258,010)
(682,380)
697,754
Net income (loss) per share (basic)
(0.01)
(0.02)
(0.01)
0.01
Net income (loss) per share (diluted)
(0.01)
(0.02)
(0.01)
0.01
For complete details, please refer to the Unaudited Condensed Interim Consolidated Financial
Statements for the three and six months ended
June 30, 2022
and 2021 and associated
Management Discussion and Analysis for the three and six months ended
June 30, 2022
and 2021,
available on SEDAR (
www.sedar.com
) or on the Company's website (
www.sailfishroyalty.com
).
Subsequent to Q2 2022 Activity:
On
July 15, 2022
, the Company paid a dividend of
$0.0125
per common share.
As at the date of this news release, Sailfish purchased 246,000 common shares on-market of
which 100,000 have not been cancelled. In addition to the above, the Company cancelled
257,900 common shares subsequent to
June 30, 2022
.
On
July 11, 2022
, the Company announced that the TSX Venture Exchange has 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 TSX Venture Exchange. The notice provides that the Company may,
during the 12-month period commencing
July 14, 2022
and ending
July 13, 2023
, purchase up
to 3,586,886 common shares of the Company in total, being approximately 5% of the total
number of Shares outstanding as at
July 14, 2022
.
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 and
repurchase common shares under the current NCIB. 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 and repurchase common shares under the current NCIB.
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
repurchase common shares under the current NCIB. 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 17:00e 28-JUL-22