1287398 B.C. Ltd Enters into Binding Letter of Intent to Acquire Sailfish Royalty Corp.'s Gavilanes Silver Project and Wexford's Commonwealth Silver-Gold Project to Create a New Precious Metals Company to Be Named "Swordfish Silver"

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[{"type":"text","content":"1287398 B.C. Ltd Enters into Binding Letter of Intent to Acquire Sailfish Royalty Corp.'s Gavilanes Silver Project and Wexford's Commonwealth Silver-Gold Project to Create a New Precious Metals Company to Be Named \"Swordfish Silver\"Vancouver, British Columbia--(Newsfile Corp. - October 7, 2021) - 1287398 B.C. Ltd . (\"Pubco\" or \"Swordfish Silver\") is pleased to announce that it has entered into a binding letter of intent (the \"LOI\") dated October 4, 2021 with Sailfish Royalty Corp. (\"Sailfish\") to complete a transaction (the \"Proposed Transaction\") with the goal of creating a silver focused exploration and development company. The Proposed Transaction is expected to result in the transfer of the Sailfish's wholly owned Gavilanes silver property located in Durango, Mexico (the \"Gavilanes Silver Project\") to Pubco in exchange for shares of Pubco (the \"Gavilanes Acquisition\"). Pubco has also signed a binding letter of intent with certain funds managed by Wexford Capital LP to acquire the Commonwealth silver and gold property in Cochise Country, Arizona (the \"Commonwealth Silver-Gold Project\"). Closing of the Gavilanes Acquisition is subject to, among other things, Pubco acquiring the Commonwealth Silver-Gold Project in exchange for shares of Pubco, a concurrent private placement financing for proceeds of approximately US$5,000,000 (the \"Private Placement\"), and receipt of conditional acceptance from the TSX Venture Exchange (the \"TSXV\") to have Pubco's common shares listed on the TSXV.Swordfish Silver Highlights:Swordfish Silver is expected to have combined resources of over 15 million ounces (\"oz\") of silver-equivalent (\"AgEq\") in the Measured and Indicated category and over 33 million oz AgEq in the Inferred category.1The Commonwealth Silver-Gold Project has significant near-term exploration potential and the project is largely located on patented claims. The majority of the use of proceeds from the concurrent Private Placement are earmarked for drilling at the Commonwealth Silver-Gold Project, with the goal of expanding the mineral resources over the next 18 months. Preliminary exploration activities have commenced at the Gavilanes Silver Project in anticipation of an eventual drill exploration program once permits are granted. General Information About Commonwealth, Gavilanes and PubcoThe Commonwealth S...

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