Sailfish Royalty Corp V.FISH

Sailfish Signs a Binding LOI with Mako Mining

[Betteryear2]

Tortola, British Virgin Islands--(Newsfile Corp. - March 1, 2023) - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce that it has signed a binding letter of intent ("LOI") with Mako Mining Corp. ("Mako") in respect of acquiring a 24-month silver stream (the "Silver Stream") for US$6 million in cash and an option to purchase subsequent silver produced from the San Albino mine or from concessions currently owned by Mako and processed through Mako's San Albino processing facility until production is no longer economically viable at the mutual agreement of Sailfish and Mako. Such option is exercisable after 12 of the 24 month term of the Silver Stream has passed for an additional US$1 million. As part of this transaction, Sailfish is announcing a US$4,000,000 convertible debenture financing (the "Offering") (see terms below). The net proceeds received by the Company from the Offering will be used to finance a portion of the US$6 million purchase price of the Silver Stream and the remaining portion will be paid with working capital.

Sailfish Signs a Binding LOI with Mako Mining for a Silver Stream Designed to Enhance the Sustainability of Its Dividend and Increase Its Silver Exposure; Announces Private Placement of Convertible Debentures; and Appointment of New Director (newsfilecorp.com)