On Aug. 19, 2019, Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) and Terraco Gold Corp. (TSXV: TEN) announced the completion of the previously announced transaction between the two companies in which Sailfish acquired all of the issued and outstanding shares of Terraco in exchange for consideration of 0.12 of a common share of Sailfish for each Terraco share, pursuant to a court approved plan of arrangement. Shares of Terraco were subsequently delisted from the TSX Venture Exchange.
Sailfish is a precious metals royalty and streaming company with cornerstone assets on advanced stage projects in Nicaragua and Brazil. The acquisition of Terraco adds a potential cornerstone asset: an up to 3% NSR on the multi-million ounce Spring Valley gold project in Pershing County, Nevada.
Gowling WLG advised Terraco in this transaction with a team led by Cyndi Laval and that included Stefan McConnell, Jill Dunn, Raymond Ong and Kean Silverthorn (corporate/M&A); Brent Kerr and Anita Yuk (tax); Martin Palleson, Steven Sofer, Jonathan Ross, Usman Sheikh and Jeff Bradshaw (advocacy); assisted by student-at-law James Stewart.
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