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Sailfish Royalty Corp. provides an update on the October 24, 2022 announcement by the United States Department of the Treasury’s Office of Foreign Assets Controls (“OFAC“) relating to new U.S. sanctions imposed on the General Directorate of Mines (“DGM“) pursuant to Executive Order (“EO“) 13851, as well as the issuance of EO 14088 (“October 24 measures“).
On October 31, 2022, Mako Mining Corp. (“Mako“) announced that “while the Company is currently undertaking an internal review of the impact of the October 24 measures on current and future planned operations in Nicaragua, in coordination with its U.S. and Canadian advisors, and consistent with its commitment to comply with applicable legal and regulatory requirements, the Company does not expect any material changes to its Nicaragua operations due to the October 24 measures.”
Paolo Lostritto, Chief Executive Officer of Sailfish states that, “To date, there has been no material impact on our Nicaraguan stream. We will continue to monitor the situation to ensure that we comply with all applicable legal and regulatory requirements. The Company has been actively using its normal course issuer bid to purchase Sailfish shares in the market given that we believe the current market value does not reflect the fundamental value of our asset base.”
For complete information, please refer to Mako’s news release issued on October 31, 2022, which is available on its SEDAR profile at www.sedar.com or on Mako’s website at www.makominingcorp.com.
Sailfish is a precious metals royalty and streaming company. Within Sailfish’s portfolio are two main assets in the Americas: a gold stream equivalent to a 3% NSR on the San Albino gold mine (~3.5 sq. km) and a 2% NSR on the rest of the area (~134.5 sq. km) surrounding San Albino in northern Nicaragua; and an up to 3% NSR on the multi-million ounce Spring Valley gold project in Pershing County, Nevada.
Sailfish is listed on the TSX Venture Exchange under the symbol “FISH” and on the OTCQX under the symbol “SROYF”. Please visit the Company’s website at www.sailfishroyalty.com for additional information.
