OR Royalties Inc. (TSX:OR) entered into a share purchase agreement to acquire Terraco Gold Corp. from Sailfish Royalty Corp. (TSXV:FISH) for approximately $170 million on February 23, 2026. OR Royalties is acquiring Terraco and the NSR Royalties for total after-tax cash consideration of $168 million.

The transaction is subject to approval by TSX Venture Exchange, approval of offer by Sailfish Royalty Corp. shareholders and other customary closing conditions. The deal has been approved by shareholders of Sailfish Royalty Corp. The expected completion of the transaction is in the first half of 2026.

National Bank Financial, Inc. acted as financial advisor for Sailfish Royalty Corp. DuMoulin Black LLP acted as legal advisor for Sailfish Royalty Corp. Stikeman Elliott LLP acted as legal advisor for OR Royalties Inc. INFOR Financial Group acted as a strategic advisor to Sailfish Royalty Corp.