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Sailfish Royalty Completes Acquisition of Terraco Gold, Creating a New Growth-Oriented Royalty Company
Sailfish Royalty Completes Acquisition of Terraco Gold, Creating a New Growth-Oriented Roy...
About this update from Sailfish Royalty Corp.
[{"type":"text","content":"\n\n\n\nSailfish Royalty Completes Acquisition of Terraco Gold, Creating a New Growth-Oriented Royalty Company\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.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORTOLA, British Virgin Islands and VANCOUVER, Aug. 19, 2019\n\n\n\nTORTOLA, British Virgin Islands and VANCOUVER, Aug. 19, 2019 /CNW/ - Sailfish Royalty Corp. (\"Sailfish\") (TSX Venture: FISH) and Terraco Gold Corp. (\"Terraco\") (TSX Venture: TEN) are pleased to announce the completion of the previously announced transaction between the two companies (the \"Arrangement\"). Sailfish has now acquired all of the issued and outstanding shares of Terraco (the \"Terraco Shares\") in exchange for consideration of 0.12 of a common share of Sailfish (each full share, a \"Sailfish Share\") for each Terraco Share, pursuant to a court approved plan of arrangement (the \"Plan of Arrangement\"). \n\n \n \n\n \nSailfish is also pleased to report that it has repaid in full the US$12,031,055 outstanding senior unsecured convertible debenture held by Solidus Resources, LLC, a wholly-owned subsidiary of Waterton Precious Metals Fund II Cayman, LP (the \"Debenture\"). The extinguishment of the Debenture provides Sailfish shareholders with an unencumbered royalty ownership, with no future conversion or buy back rights, of up to a 3% NSR on the multi-million-ounce Spring Valley Gold Project (\"Spring Valley\").  \nAkiba Leisman, CEO of Sailfish, commented: \"this exciting transaction brings together our combined royalty portfolios into a new, growth-oriented royalty vehicle.  Terraco's royalty holdings will give our shareholders exposure to one of the best known undeveloped gold mining properties in Nevada. We believe that Spring Valley is a high priority development project for Waterton which is evidenced by a recent royalty purchase Sol...