Sailfish Royalty entered into Arrangement Agreement with Terraco Gold Corp

Sailfish Royalty Corp., a precious metals royalty and streaming company incorporated in the British Virgin Islands, and Terraco Gold Corp., a gold royalty company focused on Spring Valley Gold Project located in Nevada, entered into a definitive arrangement agreement on June 19, 2019. Sailfish has agreed to acquire all of the issued and outstanding shares of Terraco, in exchange for consideration of 0.12 of a common share of Sailfish for each share of Terraco. The existing options and warrants to acquire Terraco shares will be converted into options and warrants to acquire Sailfish Shares, each in accordance with their terms.

The consideration offered by the BVI corporation represents a premium of approximately 53% to the trailing 20-day volume weighted average price of the Terraco Shares as at the above stated date.

The consolidated company will hold and array of precious metals royalties, and the geographical diversification will include Nevada, Mexico, Nicaragua and Brazil. The company will also hold royalties with such property owners as Waterton Global Resource Management, Eldorado Gold Corporation and Endeavour Silver Corp., and will be supported by Wexford Capital LP, an SEC registered investment advisor with approximately US$3 billion of assets under management.

Akiba Leisman, CEO of the BVI corporation, stated in comments on the agreement: “We are very pleased to announce this exciting transaction which brings together our combined royalty portfolios into a new, growth-oriented royalty vehicle. Terraco’s royalty holdings on the development-stage Spring Valley Gold Project in Nevada will give our shareholders exposure to one of the best known undeveloped mining properties in the region.”

Luxoft Holding acquired by DXC Technology

World's leading independent IT services company DXC Technology announced the completion of the acquisition of Luxoft Holding Inc., the BVI-registered and globally working digital strategy and software engineering company. Definitive agreement to acquire Luxoft was signed in January 2019, while regulatory approval for the purchase was received on June 11, 2019.

Luxoft will continue to be headed by Dmitry Loschinin, who will report further on to DXC’s chairman, president and CEO Mike Lawrie. The BVI holding company, which has a 13,000-person workforce, providing digital strategy consulting and software engineering services for companies across North America, Europe and the Asia Pacific region, will maintain its brand and operate as “A DXC Technology Company.” 

DXC’s chairman stated in his comments on the acquisiton: “With Luxoft, DXC will cover the full spectrum of business-driven digital initiatives, from modernizing client legacy IT systems to delivering transformational digital solutions at scale… Luxoft’s proven success for global clients creates new value and benefits for all DXC stakeholders. I want to welcome the Luxoft team to the DXC family.”

By words of Luxoft’s CEO, “Joining a leading global innovator in DXC is exciting for our people, clients and partners… it’s the best of both worlds: DXC provides the scale, resources and market presence, while Luxoft brings differentiated capabilities and new digital talent. We expect our shared vision to create new market opportunities, deliver game-changing innovations and drive DXC’s growth.”