TORTOLA, British Virgin Islands, March 3, 2020 /CNW/ - Sailfish Royalty Corp. (TSX-V: FISH) (the "Company" or "Sailfish") is pleased to announce that it has completed its previously announced sale (the "Transaction") of the Almaden Gold Project to GoldMining Inc.'s ("GoldMining") wholly-owned subsidiary.
The total purchase price under the Transaction is C$1,150,000, which was satisfied by the GoldMining paying C$575,000 in cash and issuing 337,619 GoldMining shares at a deemed price of C$1.70 per share.
The shares issued under the Transaction are subject to a four month and one day hold period and certain additional ongoing resale restrictions pursuant to the terms of the asset purchase agreement between the parties to the Transaction.
For further information regarding the Transaction, please refer to the Company's news release dated February 24, 2020.
Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are two cornerstone assets on advanced stage projects in the Americas: a gold stream equivalent to a 3% NSR on the San Albino gold project (~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 3.5% NSR on the Tocantinzinho gold project in the prolific Tapajos district of northern Brazil. The acquisition of Terraco Gold Corp. adds a potential cornerstone asset: 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.
SOURCE Sailfish Royalty Corp.
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