Sailfish Closes its Previously Announced Transaction to Acquire a Gold Stream from Mako Mining
MWN-AI** Summary
Sailfish Royalty Corp. (TSXV: FISH) (OTCQB: SROYF) has successfully finalized the acquisition of a gold stream from Mako Mining Corp. This transaction involves Sailfish's previously announced sale of its 100% membership interest in Mt. Hamilton LLC, which oversees the Mt. Hamilton Gold-Silver Project in Nevada. The completion of this disposition was communicated on March 24, 2026, following a series of prior announcements throughout late 2025 and early 2026.
Under the terms of the amended gold purchase agreement, Sailfish will receive a 132-month gold stream, which includes purchasing approximately 341.7 troy ounces of gold per month at a discounted rate pegged to the London Bullion Market Association PM Fix price during the first 60 months, and around 100 troy ounces monthly for the remaining period at the same price discounting method. The price has defined limits, with a floor of $2,700 per ounce and a cap of $3,700 per ounce. The overall deemed purchase price of the stream is estimated at $40 million, secured against Mako's properties.
This transaction also received the necessary approvals from disinterested shareholders of Sailfish during its annual general meeting on March 3, 2026, in accordance with regulatory requirements. Sailfish's portfolio includes significant assets in precious metals, such as gold streams from mining projects in Nicaragua, Nevada, and Mexico.
Sailfish's ongoing strategy focuses on expanding its royalty and streaming business in precious metals, aiming for long-term growth and financial stability while navigating challenging market conditions. For more information, the company encourages stakeholders to visit their website or contact their executives directly.
MWN-AI** Analysis
Sailfish Royalty Corp.'s recent transaction to acquire a gold stream from Mako Mining is a pivotal moment for the company that may impact its shareholder value and market standing in the coming months. The completion of the deal, alongside the streamlined approach to securing gold at negotiated prices, provides Sailfish with both stability and a potential increase in revenue streams.
The initial phase of the agreement allows Sailfish to purchase approximately 341.7 ounces of gold monthly at an attractive fixed percentage of the market price (20% of the London PM Fix), with a price floor of $2,700 per ounce. This not only mitigates risk during bearish market conditions but also positions Sailfish to capitalize on any upward movement in gold prices, as their purchasing costs could remain significantly below the anticipated market rates.
Additionally, the latter phase of the agreement, which involves purchasing 100 ounces per month, ensures a consistent cash flow that can be leveraged for further investment or operational costs. This two-tier structure of payments takes into account market volatility and offers flexibility, enhancing Sailfish's resilience in differing market climates.
However, investors should remain cautious. The performance of Mako Mining and its ability to fulfill its contractual obligations under the Stream Agreement is critical. Given the inherent risks in mining and evolving market conditions, ensuring that Mako is certified to deliver the gold as specified is paramount.
From a market perspective, Sailfish's recent strategic decisions demonstrate proactive management and a clear direction towards optimizing its royalty portfolio. With shareholder approval further solidifying the transaction, it may be wise for investors to take a closer look at Sailfish's performance against gold market trends, while maintaining a watchful eye on broader economic indicators. Adjusting investment strategies in relation to this acquisition could yield beneficial results, particularly if the gold market remains robust.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Tortola, British Virgin Islands--(Newsfile Corp. - March 24, 2026) - Sailfish Royalty Corp. (TSXV: FISH) (OTCQB: SROYF) (the "Company" or "Sailfish") is pleased to announce that, further to its news releases dated September 29, 2025, November 26, 2025, February 14, 2026 and March 3, 2026, it has completed the previously announced disposition (the "Disposition") of the Company's 100% membership interest in Mt. Hamilton LLC ("MH LLC"), which holds the permitted Mt. Hamilton Gold-Silver Project located in White Pine County, Nevada, USA (the "Property"), to Mako US Corp. ("Mako US"), an affiliate of Mako Mining Corp. ("Mako"), in exchange for a 132-month gold stream (the "Stream").
Transaction Highlights
Pursuant to the terms of the amended and restated gold purchase agreement with Mako dated February 14, 2026 (the "Stream Agreement"), Sailfish will receive the following consideration:
during the initial 60 months of the Stream, Sailfish will purchase from Mako approximately 341.7 troy ounces of gold per month at a price equal to 20% of the London Bullion Market Association PM Fix price, subject to a floor of US$2,700 per ounce and a cap of US$3,700 per ounce; and
during the final 72 months of the Stream, Sailfish will purchase from Mako approximately 100 troy ounces of gold per month at a price equal to 20% of the London Bullion Market Association PM Fix price.
The Stream is secured against all present and after-acquired property of Mako, in addition to specific guarantees and pledges relating to an encumbrance by Sailfish over the Property. The deemed purchase price of the Stream is US$40 million, satisfied through the disposition of the Property to Mako US.
Shareholder and Regulatory Approvals
The Disposition was approved by disinterested shareholders of Sailfish at the Company's annual general and special meeting held on March 3, 2026, in accordance with the requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions and the policies of the TSX Venture Exchange (the "TSXV"). The Disposition was also approved by Mako's shareholders at a special meeting held on March 3, 2026.
Copies of the amended and restated purchase and sale agreement dated February 14, 2026 among Sailfish, Mako US and Mako, the Stream Agreement and related documents are available under the Company's SEDAR+ profile at www.sedarplus.ca.
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 fully permitted multi-million ounce Spring Valley gold mine project in Pershing County, Nevada; and a 2% NSR on the Gavilanes Silver Project located in Durango State, Mexico.
Sailfish is listed on the TSX Venture Exchange under the symbol "FISH" and on the OTCQB 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, 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 Notes Regarding Forward-Looking Statements:
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements, including statements regarding the benefits of the Disposition, the anticipated gold deliveries and pricing under the Stream, and other statements regarding the future plans and expectations of the Company. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that Mako will perform its obligations under the Stream Agreement and that gold prices will remain within anticipated ranges. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, adverse market conditions; general economic, market or business risks; unanticipated costs; counterparty risk (including with Mako); commodity price fluctuations; and other factors beyond the control of the Company, including those other risks more fully described in the Company's annual and quarterly management's discussion and analysis and other filings made by the Company with Canadian securities regulatory authorities under the Company's profile at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289676
FAQ**
How does the completion of the Disposition of Sailfish Royalty Corp SROYF's 100% membership interest in Mt. Hamilton LLC impact the company's overall financial strategy and future growth plans?
What are the potential risks associated with the gold stream agreement established by Sailfish Royalty Corp SROYF, particularly in relation to gold price fluctuations and Mako's performance?
How will the proceeds from the Disposition affect Sailfish Royalty Corp SROYF's investment in other assets, such as the San Albino gold mine and Spring Valley project?
What measures is Sailfish Royalty Corp SROYF taking to mitigate counterparty risk in its agreement with Mako US Corp, especially considering the long-term nature of the gold stream?
**MWN-AI FAQ is based on asking OpenAI questions about Sailfish Royalty Corp (OTC: SROYF).
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