Mako Signs Binding Letter of Intent with Sailfish Royalty Corp. for a US$6,000,000 Silver Stream to Refinance Existing Debt

Mar 01, 2023

VANCOUVER, BC / ACCESSWIRE / March 1, 2023 / Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF, Financial) ("Mako" or the "Company") is pleased to announce that it has signed a binding letter of intent ("LOI") with Sailfish Royalty Corp. ("Sailfish") to provide a 24-month silver stream (the "Initial Silver Stream") to Sailfish for cash consideration of US$6,000,000 payable by Sailfish to Mako on the closing of the Initial Silver Stream transaction and an option (the "Option") to Sailfish, exercisable at the discretion of Sailfish on or after 12 months following the closing of the Initial Silver Stream upon payment of additional cash consideration of US$1,000,000, to purchase subsequent silver produced from the San Albino mine, or from concessions currently owned by Mako and processed through Mako's San Albino processing facility, until silver production is no longer economically viable as mutually agreed between Mako and Sailfish (the "Transaction"). The parties have agreed to a exclusivity period in connection with the silver stream for a period of 120 days from the effective date of the LOI.

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