Financings

Sailfish arranges buyback of up to 3.76 million shares

By The Northwire Desk — AI Analysis Aug 11, 2025 · 16:11 FISH · 2.3 Sailfish Royalty Corp.

FISH · Price

Sailfish Royalty Corp. announced a new Normal Course Issuer Bid (NCIB) to repurchase up to 3,767,749 shares (≈5% of outstanding shares) between Aug 12 2025 and Aug 11 2026 at prevailing market prices.
The company closed its sale of the Gavilanes silver project to Advance Metals Ltd., receiving $50k cash, 16.8 M AML common shares, up‑to 33.6 M performance rights (potentially converting into additional AML shares upon resource milestones), and a 2% NSR royalty on future production.
Sailfish will downgrade its OTC listing from OTCQX to OTCQB effective Aug 28 2025 to reduce corporate costs.

NCIB Parameters:
Maximum repurchase: 3,767,749 common shares (≈5% of total shares as of July 16 2025).
Purchase period: 12 months starting Aug 12 2025, ending Aug 11 2026.
Price: Prevailing market price at time of each acquisition.
Purchases to be made on the open market via Ventum Financial Corp., with shares cancelled upon purchase.
Funding source: Company’s working capital.
Prior NCIB (July 22 2024 – July 21 2025):
Shares purchased: 1,400,200 at a VWAP of $1.4759 per share.
Purchased shares were cancelled and re‑issued as authorized unissued common shares.
Gavilanes Project Sale to Advance Metals Ltd.:
Cash consideration: US$50,000.
Equity consideration: 16.8 M fully paid AML ordinary shares.
Performance rights: 33.6 M rights split into two tranches of 16.8 M each, convertible to AML shares upon achievement of:
- 30 M oz Ag‑Eq resource @ ≥300 g/t (by 5 years post‑closing).
- 60 M oz Ag‑Eq resource @ ≥300 g/t (by same deadline).
Net Smelter Return royalty: 2.0% on all mineral production from the Gavilanes property.
Milestone & Expenditure Commitments:
AML must spend a minimum of US$2 M in exploration on Gavilanes within five years of closing.
If the minimum spend is not met and no performance rights have vested, AML will pay an immediate cash penalty of US$500,000 to Sailfish.
OTCQB Listing Transition:
Effective date: Aug 28 2025.
Reason: Reduce corporate costs by moving from OTCQX to OTCQB market.

(No direct quotes were provided in the release.)

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