Mako Signs Letter of Intent for Gold Purchase Agreement With Sailfish

10:51 AM EDT, 09/14/2026 (MT Newswires) -- Mako Mining (MAKO) said Monday it entered into a non-binding letter of intent with non-arm's-length entity Sailfish Royalty for a proposed sale of a corporate-level, long-term gold stream to Sailfish. Under the terms of the proposed transaction, Mako will provide Sailfish with 650 troy ounces of refined gold per month until Aug. 1, 2028. The amount will then gradually increase to 1,000 troy ounces per month over a term of 240 months. For each ounce of refined gold delivered, Sailfish will pay Mako a price equal to 25% of the London Bullion Market Association PM Fix price on the date of delivery. In connection with the planned transaction, Sailfish proposes to issue Mako 70 million common shares at $5.76 per share. Following the acquisition of the shares, Mako said it will hold about 49% of Sailfish's issued and outstanding common shares. Shares of Mako Mining were down 3.2% in Monday trading. Price: 9.75, Change: -0.33, Percent Change: -3.27