Sailfish Royalty Declares Q3 2024 Dividend
Sailfish Royalty Declares Q3 2024 Dividend
Tortola, British Virgin Islands--(Newsfile Corp. - November 25, 2024) - Sailfish Royalty Corp. (TSXV:
FISH) (OTCQX: SROYF) (the "
Company
" or "
Sailfish
") is pleased to announce that its Board of
Directors has declared the Company's third quarterly cash dividend for 2024 in the amount of
US$0.0125 per common share that will be payable on January 15, 2025 to Sailfish shareholders of
record as of the close of business on December 31, 2024.
The declaration, timing, amount, and payment of future dividends will be subject to the discretion and
approval of the Board of Directors. The Company will review the dividend policy on an ongoing basis
and may amend it at any time depending on the Company's then current financial position, capital
allocation framework, profitability, cash flow, legal requirements and other factors considered relevant.
As such, no assurances can be made that any future dividends will be declared and/or paid. Dividend
payments may be subject to withholding taxes.
The Company also announces that it has elected to settle an aggregate of US$205,000 in interest
accrued up to November 24, 2024 through the issuance of an aggregate of 188,593 common shares in
the capital of the Company ("
Shares
") at a deemed price of CDN$1.52 per Share to the holders of
convertible debentures dated May 24, 2023 (the "
Debentures
").
Each Debenture accrues interest at a rate of 10% per annum payable semi-annually in arrears. Under
the terms of the Debentures, subject to TSX Venture Exchange ("
TSXV
") acceptance, accrued interest
is payable at the election of the Company in Shares at a price per Share equal to the greater of: (A) the
twenty day average closing price of the Shares on the TSXV immediately before the date the Shares are
issued in satisfaction of accrued interest; and (B) the closing price of the Shares on the TSXV on the
date immediately before the date the Shares are issued in satisfaction of accrued interest.
The issuance of the Shares to Wexford Catalyst Trading Limited and Wexford Spectrum Trading Limited
(the "
Interested Parties
") constitutes a "related party transaction" within the meaning of MI 61-101.
Notwithstanding the foregoing, the directors of the Company have determined that the issuance of
Shares to the Interested Parties will be exempt from the formal valuation requirements of MI 61-101 by
virtue of the exemption contained in section 5.5(a) and from the minority shareholder approval
requirements of MI 61-101 by virtue of the exemption contained in section 5.7(1)(a) of MI 61-101 as the
fair market value of the securities issued to the Interested Parties did not exceed 25% of the Company's
market capitalization. The Company did not file a material change report 21 days prior to the closing of
the transaction as the details of the participation of Interested Parties had not been confirmed at that
time.
The foregoing is subject to TSXV approval, the Shares will be subject to a statutory hold period of four
months from the date of issuance, in accordance with applicable securities legislation.
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 Akiba Leisman, Executive
Chairman of the Board, tel. 917-558-5289.
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 completion of the settlement of
accrued interest through the issuance of Shares and approval by the TSXV thereof and the
Company's dividend policy and the Company's intention to pay a quarterly dividend. 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, without limitation: that the
Company will receive the necessary approval from the TSXV to complete the transaction as currently
contemplated and that the Company's financial position will allow it to pay quarterly dividends in
accordance with the 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: the risk that the Company will not received the necessary approval from the TSXV to settle
the accrued interest through the issuance of Shares and that a quarterly dividend will not be payable
in accordance with the dividend policy or at all; and those applicable risks, uncertainties and factors
set forth in the Company's disclosure record under the Company's profile on SEDAR+ at
www.sedarplus.ca
.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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/231183