TORTOLA, British Virgin Islands, July 11,
2022 /CNW/ - Sailfish Royalty Corp. (TSXV: FISH)
(OTCQX: SROYF) (the "Company" or "Sailfish")
announced today that the TSX Venture Exchange (the
"Exchange") has accepted a notice filed by the Company of
its intention to make a Normal Course Issuer Bid (the "Bid") to be
transacted through the facilities of the 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 ("Shares") in total,
being approximately 5% of the total number of Shares outstanding as
at July 14, 2022.
The price which the Company will pay for any such Shares will be
the prevailing market price at the time of acquisition. The
actual number of Shares which may be purchased pursuant to the Bid
and the timing of any such purchases will be determined by
management of the Company. Purchases under the Bid will be made
from time to time by PI Financial Corp. on behalf of the
Company.
All Share purchases will be made on the open market through the
facilities of the Exchange and will be purchased for cancellation.
The funding for any purchase pursuant to the Bid will be financed
out of the working capital of the Company.
The Company recently completed a Normal Course Issuer Bid
through the facilities of the Exchange between July 13, 2021 and July 13,
2022 (the "Previous Bid"). Under the Previous
Bid, the Company purchased 2,593,800 common shares of the Company
for a volume-weighted average price of approximately $1.3229 per share. The common shares
purchased under the Previous Bid were then cancelled and made
available for reissue as authorized unissued common shares of the
Company.
The Board of Directors of the Company believes that the recent
market prices of the Company's common shares do not properly
reflect the underlying value of such shares. As a result, depending
upon future price movements and other factors, the Board believes
that the purchase of the Shares would be an appropriate use of
corporate funds and in the best interests of the Company and its
shareholders. Furthermore, the purchases are expected to benefit
all persons who continue to hold Shares by increasing their equity
interest in the Company if the repurchased Shares are
cancelled.
A copy of the Company's notice filed with the Exchange may be
obtained, by any shareholder without charge, by contacting the
Company's Chief Executive Officer, Cesar
Gonzalez.
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 & Forward-Looking Statements
Cautionary Note 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, including
statements regarding future estimates, plans, objectives, timing,
assumptions or expectations of future performance, including the
statement that the Company will complete the purchases of the
Shares pursuant to the Bid and that the purchases made pursuant to
the Bid are expected to benefit all persons who continue to hold
Shares by increasing their equity interest in the Company if the
repurchased Shares are cancelled are forward-looking statements and
contain forward-looking information. Generally, forward-looking
statements and information can be identified by the use of
forward-looking terminology such as "intends" or "anticipates", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "should", "would" or
"occur". 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 the Company will be able to complete the purchases
of the Shares pursuant to the Bid and that the purchases made
pursuant to the Bid will benefit all persons who continue to hold
Shares by increasing their equity interest in the Company if the
repurchased Shares are cancelled. 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, that
the Company will not be able to complete the purchases of the
Shares pursuant to the Bid and that the purchases made pursuant to
the Bid will not benefit all persons who continue to hold Shares.
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 out-look that are
incorporated by reference herein, except in accordance with
applicable securities laws.
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SOURCE Sailfish Royalty Corp.
