Barrick Announces Further Investment in Midas Gold
June 11 2019 - 8:00AM
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) announced
today that it will acquire 7,274,142 common shares of Midas Gold
Corp. (“Midas Gold”) as part of the public offering of common
shares announced yesterday by Midas Gold (the “Offering”). Barrick
currently owns 46,551,731 common shares of Midas Gold, representing
approximately 19.6 percent of the outstanding common shares of
Midas Gold, on a non-diluted basis.
The Offering is expected to close on or about
June 19, 2019, following which Barrick will own approximately 19.9
percent of the outstanding common shares of Midas Gold, on a
non-diluted basis. Barrick will purchase the additional common
shares of Midas Gold at the Offering price of C$0.60 per share, for
aggregate consideration of approximately C$4.4 million.
Barrick is acquiring the common shares for
investment purposes. Depending on market conditions and other
factors, including Midas Gold’s business and financial condition,
Barrick may, subject to the terms of the investor rights agreement
previously entered into by Barrick and Midas Gold, acquire
additional common shares or other securities of Midas Gold or
dispose of some or all of the common shares or other securities of
Midas Gold that it owns at such time.
An early warning report will be filed by Barrick
in accordance with applicable securities laws. To obtain a copy of
the early warning report, please contact Kathy du Plessis, whose
contact details are included below.
Barrick is a senior gold mining company
organized under the laws of the Province of British Columbia.
Barrick’s corporate office is located at Brookfield Place, TD
Canada Trust Tower, Suite 3700, 161 Bay Street,
P.O. Box 212, Toronto, Ontario M5J 2S1. Midas
Gold’s head office is located at 890 – 999 West Hastings Street,
Vancouver, British Columbia V6C 2W2.
Enquiries:
Kathy du PlessisInvestor andMedia Relations+44 20 7557
7738barrick@dpapr.com |
Website: www.barrick.com
Cautionary Statement on Forward-Looking
Information
Certain information contained in this press
release, including any information relating to the proposed
investment in Midas Gold constitutes “forward-looking statements”.
All statements, other than statements of historical fact, are
forward-looking statements. The words “expect”, “will”,
“potential”, “may” and similar expressions identify forward-looking
statements. In particular, this press release contains
forward-looking statements including, without limitation, with
respect to the Offering and Barrick’s acquisition or disposition of
securities of Midas Gold in the future. Forward-looking statements
are necessarily based upon a number of assumptions, including
material assumptions considered reasonable by Barrick as at the
date of this press release in light of management’s experience and
perception of current conditions and expected developments, and are
inherently subject to significant business, economic, and
competitive uncertainties and contingencies.
Many of these uncertainties and contingencies
can affect our actual results and could cause actual results to
differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, us. Readers
are cautioned not to put undue reliance on forward-looking
statements which are not guarantees of future events, and speak
only as of the date made. All of the forward-looking statements
made in this press release are qualified by these cautionary
statements. Barrick disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law.
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