Business
Sailfish Announces Agreement for Sale of its Almaden Project
Sailfish Announces Agreement for Sale of its Almaden Project Canada NewsWire TOR...
About this update from Sailfish Royalty Corp.
[{"type":"text","content":"\n\n\n\nSailfish Announces Agreement for Sale of its Almaden Project\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, Feb. 24, 2020\n\n\n\nTORTOLA, British Virgin Islands, Feb. 24, 2020 /CNW/ - Sailfish Royalty Corp. (TSX-V: FISH) (the \"Company\" or \"Sailfish\") is pleased to announce that, together with Western Standard Metals USA, Inc., its wholly-owned Nevada subsidiary (\"WSM\" and, together with Sailfish, the \"Vendors\"), it has entered into an asset purchase agreement (the \"Agreement\") with GoldMining Inc. (TSX: GOLD) (\"GOLD\") to indirectly acquire a 100% interest in the Almaden-Nutmeg Mountain Project located in Washington Country, Idaho (the \"Assets\") from the Vendors (the \"Transaction\").\n\n \n \n\n \nIn accordance with the terms of the Agreement, the Vendors will sell the Assets to GOLD in exchange for the following:\nC$575,000 paid in cash by GOLD, to WSM on the closing date of the sale of the Assets (the \"Closing Date\"); andthe issuance of such number of common shares of GOLD (\"GOLD Shares\") equal to C$575,000 at a per share issue price equal to the volume-weighted average price of the GOLD Shares on the Toronto Stock Exchange (\"TSX\") for the five trading days immediately prior to the Closing Date (the \"Payment Shares\"). The closing of the Transaction is subject to certain closing conditions, such as the receipt of applicable governmental or regulatory approvals, including conditional approval from the TSX for the issuance of the Payment Shares.\nAkiba Leisman, CEO states, \"the sale of Almaden converts a non-core asset acquired as part of the Terraco acquisition in August 2019 into cash and securities that will supplement cash flow from the El Compas royalty until cash flow from the San Albino gold steam comes online later this year. Additionally, Sailfish will have the ability to purchase the remaining shares under its amended normal course issuer bid announced on September 5, 2019, which allows for the repurchase of up to 2,974,522 shares.\"\nAbout Sailfish\nSailfish is a precious m...