Mergers & Acquisitions ·
Mako Mining Corp. entered into a non-binding letter of intent with Sailfish Royalty Corp., a related party controlled…
MAKOMako Mining Corp.
Mako Mining Corp. entered into a non-binding letter of intent with Sailfish Royalty Corp., a related party controlled by Wexford Capital LP, to establish a long-term gold stream transaction. Under the proposed terms, Mako will deliver refined gold over 240 months, starting with 650 troy ounces per month until August 1, 2028, increasing to 1,000 ounces monthly by February 2037. In exchange, Sailfish will issue 70,000,000 common shares valued at $5.76 each based on a five-day VWAP, granting Mako approximately 49% ownership of Sailfish. The transaction aims to lower capital costs and potentially facilitate the return of US$112 million in cash to shareholders or fund accretive acquisitions. Completion is subject to definitive agreements, board approvals, shareholder votes, and regulatory clearances including TSXV approval. Mako Mining Corp. operates gold mining, development, and exploration projects in Nicaragua, the United States, and Guyana.