Business
Sailfish and Wexford Provide Early Warning Disclosure Following Completion of Arrangement between Sailfish and Terraco
Sailfish and Wexford Provide Early Warning Disclosure Following Completion of Arrangement ...
About this update from Sailfish Royalty Corp.
[{"type":"text","content":"\n\n\n\nSailfish and Wexford Provide Early Warning Disclosure Following Completion of Arrangement between Sailfish and Terraco\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORTOLA, British Virgin Islands, Aug. 19, 2019\n\n\n\nTORTOLA, British Virgin Islands, Aug. 19, 2019 /CNW/ - Sailfish Royalty Corp. (TSX-V: FISH) (the \"Company\" or \"Sailfish\") and Wexford Spectrum Trading Limited (\"WST\") and Wexford Catalyst Trading Limited (together with WST, the \"Wexford Funds\"), two private investment funds managed by Wexford Capital LP (\"Wexford\"), are providing the following disclosure under the early warning requirements of Canadian securities laws.\n\n \n \n\n \nSailfish previously announced on August 19, 2019 that it acquired 100% of the issued and outstanding shares of Terraco Gold Corp. (\"Terraco\"), being 186,676,221 common shares (the \"Terraco Shares\"), by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) (the \"Arrangement\") pursuant to an Arrangement Agreement dated June 19, 2019.  Pursuant to the Arrangement, each shareholder of Terraco received 0.12 of a common share of Sailfish (each whole share, a \"Sailfish Share\") for each Terraco Share held.\nPrior to the completion of the Arrangement, Sailfish did not own or control any Terraco Shares and the Wexford Funds owned and controlled 36,286,021 Terraco Shares, being approximately 19.4% of the issued and outstanding Shares prior to the completion of the Arrangement.  Immediately after the completion of the Arrangement, Sailfish owns 186,676,221 Terraco Shares, representing 100% of the issued and outstanding Shares.\nUnder applicable securities legislation, Wexford and the Wexford Funds are deemed to be acting jointly or in concert with Sailfish by virtue of the Wexford Funds holding a majority of the outstanding Sailfish Shares, as set forth below.\nThe purpose of the Arrangement was to enable Sailfish to acquire all of the issued and outstanding Terraco Shares.  As a result of the completion of the Arrangement, it is curr...