Sailfish Announces the Acquisition of a Five-Year Gold Stream and Subsequent 2% NSR on the Permitted Mt. Hamilton Gold-Silver Project in Nevada
Sailfish Royalty Corp. (OTCQB: SROYF) has announced a strategic acquisition involving the Mt. Hamilton Gold-Silver Project in Nevada. The company will acquire Mt. Hamilton LLC and subsequently transfer it to Mako Mining Corp. in exchange for a five-year gold stream and a 2% NSR royalty.
The gold stream agreement allows Sailfish to purchase approximately 341.7 troy ounces of gold monthly at 20% of the LBMA PM Fix price (minimum $2,700/oz, maximum $3,700/oz). To fund the transaction, Sailfish secured a $40 million senior secured bridge term facility from Wexford Capital LP.
The transaction, expected to close by November 30, 2025, requires shareholder and regulatory approvals. The company has also engaged National Bank Capital Markets as Strategic Advisor to review alternatives, including potential asset sales.
Sailfish Royalty Corp. (OTCQB: SROYF) ha annunciato una acquisizione strategica del Mt. Hamilton Gold-Silver Project in Nevada. L’azienda acquisterà Mt. Hamilton LLC e successivamente la trasferirà a Mako Mining Corp. in cambio di un flusso d’oro quinquennale e di una royalty NSR del 2%.
L’accordo sul flusso d’oro consente a Sailfish di acquistare circa 341,7 once d’oro troy al mese al prezzo pari al 20% del LBMA PM Fix (minimo 2.700 $/oz, massimo 3.700 $/oz). Per finanziare l’operazione, Sailfish ha ottenuto una linea di credito bridge senior secured da 40 milioni di dollari da Wexford Capital LP.
La chiusura dell’operazione è prevista entro 30 novembre 2025 e dipende dall’approvazione degli azionisti e delle autorità regolatorie. L’azienda ha inoltre nominato National Bank Capital Markets come Strategic Advisor per valutare alternative, inclusa la potenziale vendita di asset.
Sailfish Royalty Corp. (OTCQB: SROYF) ha anunciado una adquisición estratégica del Mt. Hamilton Gold-Silver Project en Nevada. la empresa adquirirá Mt. Hamilton LLC y posteriormente la transferirá a Mako Mining Corp. a cambio de un flujo de oro de cinco años y de una regalía NSR del 2%.
El acuerdo de flujo de oro permite a Sailfish comprar aproximadamente 341,7 onzas troy de oro al mes a un precio del 20% del LBMA PM Fix (mínimo $2.700/oz, máximo $3.700/oz). Para financiar la transacción, Sailfish obtuvo una línea puente senior secured de $40 millones de Wexford Capital LP.
La operación, que se espera cierre antes del 30 de noviembre de 2025, requiere aprobaciones de accionistas y reguladores. La compañía también ha contratado a National Bank Capital Markets como Asesor Estratégico para revisar alternativas, incluidas posibles ventas de activos.
Sailfish Royalty Corp. (OTCQB: SROYF)가 네바다의 Mt. Hamilton 금-은 프로젝트를 둘러싼 전략적 인수를 발표했습니다. 회사는 Mt. Hamilton LLC를 인수한 뒤 이를 Mako Mining Corp.에 양도하고, 그 대가로 5년간의 금 스트림과 2% NSR 로열티를 받습니다.
금 스트림 계약에 따라 Sailfish는 매달 약 341.7 트로이 온스의 금을 LBMA PM Fix 가격의 20%로 구매할 수 있으며(최저 $2,700/oz, 최고 $3,700/oz). 거래 자금을 마련하기 위해 Sailfish는 Wexford Capital LP로부터 4천만 달러의 선순위 보장 브리지 대출를 확보했습니다.
거래는 2025년 11월 30일까지 마감될 예정이며, 주주 및 규제 당국의 승인이 필요합니다. 또한 회사는 대안 검토를 위한 전략 자문으로 National Bank Capital Markets를 고용했으며, 자산 매각 가능성도 포함합니다.
Sailfish Royalty Corp. (OTCQB: SROYF) a annoncé une acquisition stratégique du Mt. Hamilton Gold-Silver Project dans le Nevada. L’entreprise va acquérir Mt. Hamilton LLC puis le transférer à Mako Mining Corp. en échange d’un flux d’or sur cinq ans et d’une redevance NSR de 2%.
L’accord de flux d’or permet à Sailfish d’acheter environ 341,7 onces troy d’or par mois à 20% du LBMA PM Fix (minimum 2 700 $/oz, maximum 3 700 $/oz). Pour financer l’opération, Sailfish a obtenu une ligne de financement bridge senior secured de 40 millions de dollars auprès de Wexford Capital LP.
La transaction, dont la clôture est prévue d’ici le 30 novembre 2025, nécessite l’approbation des actionnaires et des autorités réglementaires. La société a également nommé National Bank Capital Markets comme Strategist Advisor pour examiner des alternatives, y compris la vente potentielle d’actifs.
Sailfish Royalty Corp. (OTCQB: SROYF) hat eine strategische Übernahme des Mt. Hamilton Gold-Silver Projects in Nevada angekündigt. Das Unternehmen wird Mt. Hamilton LLC erwerben und anschließend an Mako Mining Corp. übertragen, im Austausch gegen einen fünfjährigen Goldfluss und eine 2%-NSR-Royalty.
Der Goldfluss-Vertrag ermöglicht es Sailfish, monatlich ca. 341,7 Unzen Gold zu 20% des LBMA PM Fix Preises (Mindestpreis 2.700 $/oz, Höchstpreis 3.700 $/oz) zu kaufen. Zur Finanzierung der Transaktion sicherte sich Sailfish eine fünfzig-Millionen-Dollar-Senior-Secured-Brücke-Finanzierung von Wexford Capital LP.
Der Abschluss der Transaktion wird voraussichtlich bis zum 30. November 2025 erfolgen und bedarf der Zustimmung von Aktionären sowie regulatorischer Genehmigungen. Das Unternehmen hat außerdem National Bank Capital Markets als Strategic Advisor beauftragt, um Alternativen zu prüfen, einschließlich potenzieller Asset-Verkäufe.
Sailfish Royalty Corp. (OTCQB: SROYF) أعلنت عن صفقة استحواذ استراتيجية تشمل مشروع Mt. Hamilton للذهب والفضة في نيفادا. ستشتري الشركة Mt. Hamilton LLC ثم ستقوم بنقله إلى Mako Mining Corp. مقابل تيار ذهب لمدة خمس سنوات وحقوق امتياز NSR بنسبة 2%.
يسمح اتفاق تيار الذهب لس Sailfish بشراء نحو 341.7 أونصة تروية من الذهب شهرياً بسعر 20% من LBMA PM Fix (حد أدنى 2,700 دولار/أونصة، حد أقصى 3,700 دولار/أونصة). لتمويل الصفقة، حصلت Sailfish على تسهيلات جسر مضمونة من المقرّرة 40 مليون دولار من Wexford Capital LP.
من المتوقع إغلاق الصفقة بحلول 30 نوفمبر 2025، ويتطلب موافقات المساهمين والجهات التنظيمية. كما عينت الشركة National Bank Capital Markets كمستشار استراتيجي لاستعراض البدائل، بما في ذلك احتمال بيع أصول.
Sailfish Royalty Corp. (OTCQB: SROYF) 宣布在内华达州的 Mt. Hamilton 金银项目进行战略收购。公司将收购 Mt. Hamilton LLC，随后将其转让给 Mako Mining Corp.，以换取一个 五年期金流和一个 2% NSR 净矿业条款。
该金流协议允许 Sailfish 以相当于金价 LBMA PM Fix 的 20% 的价格购买约 341.7 盎司/每月的黄金（最低 $2,700/oz，最高 $3,700/oz）。为资助交易，Sailfish 已从 Wexford Capital LP 获得一笔 4000万美元的高级担保过桥融资。
交易预计于 2025年11月30日 前完成，需经股东及监管机构批准。公司还任命 National Bank Capital Markets 为战略顾问，审查包括潜在资产出售在内的替代方案。
- Immediate cash flow generation through monthly gold stream of 341.7 troy ounces
- Strategic bridge between current operations and Spring Valley gold mine production
- Favorable gold purchase terms at 20% of market price (capped $3,700/oz)
- All major state and federal permits already secured for construction
- Additional 2% NSR royalty after stream completion for life of mine
- High leverage with $40M bridge loan at SOFR + 800 bps interest rate
- Transaction requires shareholder approval and regulatory clearance
- Related party transaction risks with Mako Mining (common control)
- 12-month maturity on bridge loan creates refinancing pressure
Tortola, British Virgin Islands--(Newsfile Corp. - September 30, 2025) - Sailfish Royalty Corp. (TSXV: FISH) (OTCQB: SROYF) (the "Company" or "Sailfish") is pleased to announce that it has entered into a binding term sheet with Mako Mining Corp. ("Mako") dated September 29, 2025, to acquire a five-year gold stream and a subsequent
Mount Hamilton Open Pit Heap Leach Gold-Silver Project
The Property has all major state and federal permits to begin construction for an open pit, heap leach gold-silver project, and has a current mineral resource estimate. For further information, please refer to Mako's news release issued on September 29, 2025, which is available on its SEDAR+ profile at www.sedarplus.ca or on Mako's website at www.makominingcorp.com.
Paolo Lostritto, CEO stated, "The successful acquisition of a gold stream, which will result in immediate cash-flow to the Company and subsequent
Gold Stream and
Upon transferring Mt. Hamilton LLC to Mako, the Company will receive: (i) a monthly gold stream for a period of 60 months, whereby Sailfish will purchase from Mako approximately 341.7 troy ounces of gold at a price equal to
Completion of the Disposition is subject to a number of conditions precedent, including, but not limited to entering into and formal approval of a definitive agreement (the "Disposition Agreement") and all ancillary matters related to the Disposition by the Company's Board of Directors upon the recommendation of its special committee and receipt of corporate, regulatory and third-party approvals, including disinterested approval of the Company's shareholders and acceptance of the TSX Venture Exchange (the "TSXV"). Upon execution of the Disposition Agreement, the Company will issue a subsequent news release containing details of the Disposition Agreement and any additional terms of the Disposition.
Closing of the Acquisition is subject to customary closing conditions, including acceptance of TSXV. The Acquisition is an arm's length transaction. Closing of the Acquisition is anticipated to occur by November 30, 2025.
A copy of the Purchase Agreement and the Disposition Agreement will be available under the Company's SEDAR+ profile at www.sedarplus.ca.
In accordance with TSXV Policy 5.3 – Acquisitions and Dispositions of Non- Cash Assets ("Policy 5.3"), the trading of the common shares of the Company on the TSXV was halted on September 29, 2025, pending the receipt and review of acceptable documentation pursuant to Policy 5.3 as the Acquisition is a "Fundamental Acquisition" for the Company, as defined in Policy 5.3.
Related Party Transaction
As Mako and Sailfish have a common control person, the Disposition will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemption from the formal valuation pursuant to subsection 5.5(b) of MI 61-101 as the common shares of the Company are not listed on a specified market. The Company is not exempt from minority shareholder approval requirements and disinterested shareholder approval will be required for the Mako Agreement pursuant to MI 61-101 and the policies of the TSXV.
The Company intends to mail a management information circular ("Circular") to shareholders in respect of a shareholders meeting to be held in connection with the approval of the Disposition Agreement in the coming weeks. Additional details regarding the terms and conditions of the Disposition Agreement as well as the rationale for the approvals made by the Special Committee and the Board will be set out in the Circular which will be available under the Company's SEDAR+ profile at www.sedarplus.ca.
Wexford Loan
The Company has entered into the Commitment Letter with Wexford for a senior secured bridge term facility in the aggregate amount of up to US
The Wexford Loan will include customary positive and negative covenants for a transaction of this nature and remains subject to acceptance of the TSXV. The security will cover all assets and property of the Company including, without limitation, the membership interest in Mt. Hamilton LLC and an assignment of the Company's Spring Valley royalties, but will exclude any Mexican or Nicaraguan security. The proceeds will be used to fund the purchase price for the Acquisition.
In the event the Company is unable to obtain the required regulatory and shareholder approvals in connection with the Disposition, Wexford will elect to receive the transfer of the membership interest in Mt. Hamilton LLC as full repayment of all obligations owed and outstanding under the Wexford Loan and the Credit Agreement (defined below).
The Wexford Loan will be governed by a credit agreement (the "Credit Agreement") to be entered into on the date on which all conditions precedent to closing under the Purchase Agreement have been satisfied (the "Closing Date"). Upon execution of the Credit Agreement, the Company will issue a subsequent news release containing details of the Credit Agreement and any additional terms of the Wexford Loan.
Related Party Transaction
The Wexford Loan constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") due to the fact that Wexford is a control person of the Company. The Company is not required to obtain a formal valuation pursuant to section 5.4 of MI 61-101, which only requires a formal valuation if a "related party transaction" falls within paragraphs (a) to (g) of that definition. The Company is relying on the exemption to obtain minority shareholder approval pursuant to subsection 5.7(1)(f) of MI 61-101, as the Wexford Loan is deemed to create a new loan or credit facility, and such credit facility is on reasonable commercial terms that are not less advantageous to the Company than if the loan or credit facility were obtained from a person dealing at arm's length with the Company, and the loan or credit facility is not convertible, directly or indirectly, into equity or voting securities of the Company or a subsidiary, or otherwise participating in nature, or repayable, as to principle or interest, directly or indirectly, in equity or voting securities of the Company or a subsidiary.
Special Committee
The Company formed a special committee comprised of Walter Reich, Alessandro Palladino and Paolo Lostritto to assist with the Company's review of the Wexford Loan and the Mako Agreement. The Special Committee unanimously recommended that the board of directors of the Company (the "Board") approve the Wexford Loan and the Mako Agreement. After receiving legal and financial advice, the recommendation of the Special Committee and after taking into account the alternatives available to the Company, the Board unanimously determined that the Wexford Loan and Mako Agreement are in the best interests of the Company and is fair to the Company's securityholders.
Financial Advisors and Counsel
INFOR Financial Inc. is acting as the financial advisor to the Special Committee and DuMoulin Black LLP is acting as Canadian legal counsel.
Strategic Process
Sailfish also announces that it has engaged National Bank Capital Markets as a Strategic Advisor to review strategic alternatives which may or may not lead to the sale of the Company's assets.
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
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 completion of the Acquisition, Wexford Loan and Disposition, on the terms anticipated, or at all; the structure, terms and conditions of the Wexford Loan and the Disposition; the execution of the Disposition Agreement; the execution of the Credit Agreement; and statements regarding the strategic process. 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 and Wexford will be able to negotiate the Credit Agreement on the terms and within the time frame expected; that the Company and Mako will be able to negotiate the Disposition Agreement on the terms and within the time frame expected; that the Company will be able to obtain any necessary third party and regulatory approvals for the Acquisition, Wexford Loan and Disposition, including acceptance of the TSXV and shareholder approval for the Disposition. 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; the failure of the Company and Wexford to negotiate the Credit Agreement on the terms and conditions and within the timeframe expected; the failure of the Company and Mako to negotiate the Disposition Agreement on the terms and conditions and within the timeframe expected; the Company's failure to obtain any necessary approvals for the Acquisition, Wexford Loan and Disposition; 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 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/268461
FAQ
What are the key terms of Sailfish Royalty's (SROYF) Mt. Hamilton gold stream agreement?
How is Sailfish Royalty (SROYF) financing the Mt. Hamilton acquisition?
When will the Sailfish Royalty (SROYF) Mt. Hamilton transaction close?
What happens if Sailfish (SROYF) fails to get shareholder approval for the Mt. Hamilton deal?
What strategic review process has Sailfish Royalty (SROYF) initiated?
