Sailfish Royalty Corp. announced a non-brokered private placement of 4,000 unsecured convertible debentures at a price of $1,000 per convertible debenture for gross proceeds of $4,000,000 on March 1, 2023. Each convertible debenture will bear interest at 10% per annum, from the date of issuance, payable semi-annually in arrears.

The convertible debentures will mature on the date that is 24-months from the date of issuance of the convertible debenture. The debentures are convertible, at the option of the holder, into common shares of the company at a conversion price of CAD 1.35 ($0.9934515) per Share, at any time prior to the maturity date, subject to adjustment. The closing of the offering is subject to the receipt of any necessary regulatory approvals, including the approval of the TSXV.

All securities issued in connection with the offering will be subject to a statutory four-month hold period.