Sailfish Announces Board and Management Changes
Sailfish Royalty Corp. has appointed Paolo Lostritto as the new CEO and Director, replacing Cesar Gonzalez, who will focus on his role at Bonterra Resources. Lostritto has been with the company since March 2021, contributing to its growth and operations, including the acquisition of a royalty on the Tocantinzinho gold project. He highlighted the company’s strong financial position and growth potential in the precious metals royalty sector.
Gonzalez, a co-founder, will continue as a consultant, aiding in strategic developments.
- Appointment of Paolo Lostritto as CEO expected to bring fresh perspectives.
- Strong balance sheet and cash flow generation.
- Continued payment of dividends.
- Transition may pose challenges in continuity and experience.
TORTOLA, British Virgin Islands, Sept. 12, 2022 /PRNewswire/ - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce the appointment of Paolo Lostritto as Chief Executive Officer and Director of the Company.
Mr. Lostritto joined Sailfish in March 2021 as Vice President of Corporate Development. Prior to this, Mr. Lostritto also helped grow the Company as a banker, including assisting with the Company's purchase of the royalty held on the Tocantinzinho gold project located in northern Brazil in 2017.
Paolo Lostritto states that, "I am honoured to be leading Sailfish and working closely with the existing team who have made great strides to get the Company to where it is today. Sailfish has a solid balance sheet, is generating cash flow, is paying dividends and has potential for significant upside through royalty interests on the Spring Valley gold project in in Pershing County, Nevada. In addition, we have tremendous support from the Company's controlling shareholder, which we believe will be useful in navigating the upcoming consolidation phase expected in the precious metals royalty sector."
Mr. Lostritto has been selected to replace Cesar Gonzalez, who has stepped down from his role as Chief Executive Officer and Director of the Company to focus on his role as Executive Chairman of Bonterra Resources Inc. Mr. Gonzalez will continue to assist and provide strategic advice to the Company as a consultant.
Mr. Gonzalez co-founded Sailfish in 2014 with Akiba Leisman, Executive Chairman of the Company. Mr. Gonzalez became the CEO in October 2020 and has played an integral role in growing the Company from a private subsidiary of a predecessor of Mako Mining Corp., into a publicly traded precious metals royalty company with cash flow and paying a dividend. The Company thanks Mr. Gonzalez for his service as CEO and Director and is pleased that he will continue to provide strategic advice to the Company as a consultant.
Cesar Gonzalez states that, "it is exciting to see Sailfish continue to mature as a public company with the appointment of Paolo as a dedicated CEO. I look forward to working with Paolo and the rest of the Sailfish team as a consultant to continue growing the Company."
Mr. Lostritto has an extensive background in mining capital markets and working with companies across the globe since 1997. Paolo has helped assess different companies/projects and helped finance them as they advanced through exploration, development, and production. Some of the companies where Paolo was involved early include: Kirkland Lake Gold, Novagold and Lake Shore Gold in 2004; Romarco Minerals in 2006; Victoria Gold and Volta Resources in 2009.
Mr. Lostritto is currently serving as the Chairman of Signature Resources Ltd., which is focused on high grade gold exploration in Ontario. Over his career, Mr. Lostritto was a Director of the Mining Equity Research at National Bank Financial and worked in equity research at Wellington West, Scotia Capital and TD Securities. He served as an Independent Director at Savary Gold Corp. which was sold to SEMAFO in 2019.
Mr. Lostritto holds a Bachelor of Applied Science in Geological and Mineral Engineering in Rock Mechanics from the University of Toronto and he is a registered Professional Engineer in the Province of Ontario.
Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are two main assets in the Americas: a gold stream equivalent to a
Sailfish is listed on the TSX Venture Exchange under the symbol "FISH" and on the OTCQX under the symbol "SROYF". Please visit the Company's website at www.sailfishroyalty.com for additional information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Sailfish Royalty Corp.
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