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Sailfish Royalty Announces Completion of Stream Restructuring
Sailfish Royalty Announces Completion of Stream Restructuring Canada NewsWire TO...
About this update from Sailfish Royalty Corp.
[{"type":"text","content":"\n\n\n\nSailfish Royalty Announces Completion of Stream Restructuring\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, Nov. 9, 2018\n\n\n\nTORTOLA, British Virgin Islands, Nov. 9, 2018 /CNW/ - Sailfish Royalty Corp. (TSX-V: FISH) (the \"Company\" or \"Sailfish\") is pleased to report the closing of the previously announced restructuring (the \"Stream Restructuring\") of the Company's gold stream on the San Albino gold project (\"San Albino\") pursuant to a master agreement between the Company, Golden Reign Resources Inc. (\"Golden Reign\"), Marlin Gold Mining Ltd. (\"Marlin\"), Oro Gold de Mexico S.A. de C.V., Nicoz Resource S.A. (\"Nicoz\") and Gold Belt, S.A. (\"Gold Belt\") dated August 3, 2018 (the \"Master Agreement\"). Completion of the Stream Restructuring was conditional upon closing of the business combination transaction of Marlin and Golden Reign pursuant to a plan of arrangement under the Business Corporations Act (British Columbia), along with approval of the TSX Venture Exchange (\"TSX-V\") and the previously announced approval of disinterested shareholders of the Company. As of today, each of these closing conditions have been satisfied.\n\n \n \n\n \nPursuant to the Master Agreement, the Company, Marlin, Golden Reign, Nicoz and Gold Belt entered into the previously announced Amended and Restated Gold Purchase Agreement on mutually agreeable terms, to restructure the existing gold stream on San Albino, which provides a gold stream that is equivalent to a 3% net smelter returns royalty with respect to a certain area of interest on the San Albino concession (the \"AOI\"). The Company, Golden Reign, Nicoz and Gold Belt also entered into a new royalty agreement with respect to a 2% net smelter returns royalty on production from the San Albino concession (exclusive of the AOI) and the El Jicaro concession.\nIn addition, the Company has entered into or will enter into certain assignment, option and royalty agreements as partial consideration to be paid to the Company in consideration for entering into the A...