Mako Mining's Strategic Gold Purchase Agreement with Sailfish Royalty

Mako Mining Corp. has signed a non-binding letter of intent with Sailfish Royalty Corp. to sell a long-term gold stream. This agreement involves delivering gold to Sailfish over 20 years in exchange for shares and financial benefits. Initially, Mako will deliver 650 troy ounces monthly, increasing to 1,000 ounces as the agreement progresses.

The financial arrangement includes a payment of 25% of the gold's market price per ounce delivered. Sailfish will issue 70 million shares to Mako at $5.76 each, giving Mako a 49% stake. This aims to exploit cost-of-capital benefits and provide shareholder returns through dividends or acquisitions.

The transaction, influenced by shared control through Wexford Capital, awaits formal approval and a definitive agreement. Mako has appointed a special committee to ensure fair evaluation due to these overlapping interests. Completion depends on meeting regulatory and shareholder requirements.