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TICKERS: FISH; OTC, TEN; TCEGF

Completed Acquisition Yields New 'Growth-Oriented Royalty Vehicle'
News Update

Source:

The combined, diversified company states it intends to aggressively grow its portfolio.

Terraco Gold Corp. (TEN:TSX.V; TCEGF:OTCPK) announced in a news release that the acquisition of it by Sailfish Royalty Corp. (FISH:TSX.V; OTC:SROYF), according to the approved plan of arrangement, is complete.

"This is a great opportunity to continue on for further exposure to a diverse portfolio of royalties, with exposure to a multimillion ounce gold project portfolio and benefiting from a strong financial backing and an increased capital markets profile," Todd Hilditch, former Terraco president and CEO, said in the release.

Sailfish CEO Akiba Leisman also commented in the release, "This exciting transaction brings together our combined royalty portfolios into a new, growth-oriented royalty vehicle."

The combined entity owns numerous precious metals royalties in various stages from exploration production, and those royalties are shared by well-established companies, such as Eldorado Gold, Endeavour Silver and Waterton.

The new company also features geographic diversification, having projects in the U.S. (Nevada), Mexico, Brazil and Nicaragua along with a "platform for additional royalty consolidation in the precious metals space," the release noted.

Possible near-term, value-creating moves include monetizing or spinning off the Gavilanes and Almaden-Nutmeg Mountain assets, the company noted.

Also announced in the release is that Sailfish fully repaid the $12,031,055 outstanding senior unsecured convertible debenture held by a subsidiary of the Waterton Precious Metals Fund II Cayman L.P. This means Sailfish shareholders now own an unencumbered royalty of up to a 3% net smelter return on Spring Valley, one of the "best known, undeveloped gold mining properties in Nevada," Leisman described.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Terraco Gold. Click here for important disclosures about sponsor fees.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) owned securities of Terraco Gold and now Sailfish Royalties, companies mentioned in this article.




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