WEXFORD ANNOUNCES RECEIPT OF COMMON SHARES OF SAILFISH ROYALTY CORP. IN SETTLEMENT OF INTEREST UNDER CONVERTIBLE DEBENTURES

TORONTO, Dec. 3, 2024 /CNW/ - Wexford Capital LP ("Wexford") announced today that Wexford Spectrum Trading Limited ("WST") and Wexford Catalyst Trading Limited ("WCT" and, together with WST and Wexford Focused Trading Limited, the "Wexford Funds"), private investment funds managed by Wexford, were issued an aggregate of 183,994 common shares ("Shares") of Sailfish Royalty Corp. ("Sailfish") at a deemed price of C$1.5195 per Share on November 28, 2024 in settlement of accrued interest (the "Interest Settlement") under the unsecured convertible debentures of Sailfish dated May 24, 2023 (the "Convertible Debentures"), for total consideration of C$279,578.88.

Immediately prior to the Interest Settlement, the Wexford Funds beneficially owned an aggregate of 48,778,282 Shares, representing approximately 65.82% of the issued and outstanding Shares, in each case, on a partially-diluted basis assuming the conversion in full of the Convertible Debentures held by the Wexford Funds. Immediately following the Interest Settlement, the Wexford Funds beneficially owned an aggregate of 48,962,276 Shares, representing approximately 65.90% of the issued and outstanding Shares, in each case, on a partially-diluted basis assuming the conversion in full of the Convertible Debentures held by the Wexford Funds.

The Shares have being acquired for investment purposes. The Wexford Funds may from time to time acquire additional securities, dispose of some or all of the existing or additional securities, or may continue to hold the securities of Sailfish.

The head office of Sailfish is located at Sea Meadow House, P.O. Box 116 Road Town, Tortola, British Virgin Islands, VG1110.  The address of WCT and WST is c/o Maples Group, Ugland House, South Church Street, P.O. Box 309, George Town, Grand Cayman, Cayman Islands.

About Wexford Capital LP

Wexford is an SEC registered investment advisor based in West Palm Beach, Florida and Greenwich, Connecticut, with approximately US$1.4 billion of assets under management. Wexford has particular expertise in the energy/natural resources sector with actively managed investments in mining, oil and gas exploration and production, energy services, coal and related sectors.

For further information about Wexford or to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the matters referred to in this news release, please contact:

Wexford Capital LP
777 South Flagler Drive
West Palm Beach, FL 33401
USA
Telephone: [phone]
Contact: Daniel J. Weiner

Neither 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.

SOURCE Wexford Capital LP