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Sailfish Announces Sale of Spring Valley and Moonlight Royalties to OR Royalties Inc. for US$168 Million; Announces a Tripling of Sailfish's Annual Dividend
Tortola, British Virgin Islands--(Newsfile Corp. - February 24, 2026) - Sailfish Royalty Corp. (T...
About this update from Sailfish Royalty Corp.
[{"type":"text","content":"Sailfish Announces Sale of Spring Valley and Moonlight Royalties to OR Royalties Inc. for US$168 Million; Announces a Tripling of Sailfish's Annual DividendTortola, British Virgin Islands--(Newsfile Corp. - February 24, 2026) - Sailfish Royalty Corp. (TSXV: FISH) (OTCQB: SROYF) (the \"Company\" or \"Sailfish\") is pleased to announce that the Company has entered into a share purchase agreement on February 23, 2026 (the \"Agreement\") with OR Royalties Inc. (\"OR Royalties\") pursuant to which the Company has agreed to sell to OR Royalties (the \"Transaction\") all of the issued and outstanding shares (the \"Purchased Shares\") of Terraco Gold Corp. (\"Terraco Gold\"), a wholly owned subsidiary of Sailfish, for after-tax cash consideration of US$168 million (the \"Purchase Price\"), payable on closing of the Transaction.Terraco Gold, through its subsidiaries TGC Holdings Ltd. and Terraco Royalties USA, Inc., holds:an up to 3% net smelter return royalty on Solidus Resources' Spring Valley gold project in Pershing County, Nevada, USA (the \"Spring Valley Royalty\"); and a 2% net smelter return royalty on Solidus Resources' Moonlight property in Nevada, USA (the \"Moonlight Royalty\") and together with the Spring Valley Royalty (the \"Royalties\").As the Transaction will be a disposition of more than 50% of the Company's assets, it constitutes a \"reviewable transaction\" pursuant to TSX Venture Exchange (the \"TSXV\") Policy 5.3 and is subject to customary closing conditions, including acceptance by the TSXV and approval by the Company's shareholders. The Company has already received the requisite shareholder approval by way of written consent of certain of its shareholders. In connection with the Transaction, National Bank Financial Inc. acted as a financial advisor to the Company. INFOR Financial Group acted as a strategic advisor to the Company.Akiba Leisman, Executive Chairman of Sailfish Royalty states: \"Sailfish is pleased to announce the sale of the Royalties associated with the Spring Valley and Moonlight projects in Nevada for US$168 million in cash, after-tax. This is approximately 5.4x the purchase price we paid in August 2019 which generated an IRR of approximately 29%. Sailfish expects to redeploy this capital in high returning investments in the mining industry, with a particular focus on precious metals streams and ...