Barrick Offer for Equinox Expires: Proceeding with Compulsory Acquisition
June 14 2011 - 7:05PM
Marketwired
All amounts expressed in US$ unless otherwise indicated
Barrick Gold Corporation (NYSE: ABX)(TSX: ABX) ("Barrick" or
"the Company") and its wholly-owned subsidiary, Barrick Canada Inc.
(the "Offeror"), announced today that an additional 37,898,384
common shares (the "Equinox Shares") of Equinox Minerals Limited
(TSX: EQN)(ASX: EQN) ("Equinox") representing approximately 4% of
the outstanding Equinox Shares on a fully diluted basis were
deposited and have been taken up under the offer (the "Offer") by
the Offeror to acquire all of the Equinox Shares at a price of
C$8.15 per Equinox Share. The Offeror has acquired a total of
827,330,848 Equinox Shares pursuant to the Offer. Barrick and its
affiliates now collectively own 845,529,601 Equinox Shares,
representing approximately 96% of the outstanding Equinox Shares on
a fully diluted basis. The Offer is now closed.
As the Offer was accepted by holders of more than 90% of the
Equinox Shares (other than Equinox Shares held by the Offeror and
its affiliates and associates at the date of the Offer), the
Offeror will exercise its rights under the compulsory acquisition
provisions of the Canada Business Corporations Act to acquire all
outstanding Equinox Shares. A notice of compulsory acquisition will
be mailed promptly to all remaining holders of Equinox Shares.
The Offeror is a wholly-owned subsidiary of Barrick. Its
registered office is Brookfield Place, TD Canada Trust Tower, 161
Bay Street, Suite 3700, P.O. Box 212, Toronto, Ontario, M5J 2S1. To
obtain a copy of the report filed with the Canadian securities
regulatory authorities relating to the acquisition by the Offeror
of Equinox Shares pursuant to the Offer, contact the individuals
listed below.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information contained in this press release, including
any information as to our strategy, projects, plans or future
financial or operating performance and other statements that
express management's expectations or estimates of future
performance, constitute "forward-looking statements". All
statements, other than statements of historical fact, are
forward-looking statements. The words "believe", "expect", "will",
"anticipate", "contemplate", "target", "plan", "continue",
"budget", "may", "intend", "estimate" and similar expressions
identify forward-looking statements. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management, are inherently subject
to significant business, economic and competitive uncertainties and
contingencies. The Company cautions the reader that such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual financial
results, performance or achievements of Barrick to be materially
different from the Company's estimated future results, performance
or achievements expressed or implied by those forward-looking
statements and the forward-looking statements are not guarantees of
future performance. These risks, uncertainties and other factors
include, but are not limited to: changes in the worldwide price of
gold, copper or certain other commodities (such as fuel and
electricity); inaccuracies or material omissions in Equinox's
publicly available information or the failure by Equinox to
disclose events or facts which may have occurred or which may
affect the significance or accuracy of any such information; the
ability of the Company to complete or successfully integrate an
announced acquisition proposal; legislative, political or economic
developments in the United States, Canada, Zambia, Saudi Arabia or
elsewhere; operating or technical difficulties in connection with
mining or development activities; availability and costs associated
with mining inputs and labor; the risks involved in the
exploration, development and mining business. Certain of these
factors are discussed in greater detail in the Company's most
recent Form 40-F/Annual Information Form on file with the U.S.
Securities and Exchange Commission and Canadian provincial
securities regulatory authorities.
The Company disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, further events or otherwise, except as required by
applicable law.
Contacts: INVESTOR CONTACT: Deni Nicoski Vice President,
Investor Relations (416) 307-7410 dnicoski@barrick.com MEDIA
CONTACT: Andy Lloyd Senior Manager, Communications (416) 307-7414
alloyd@barrick.com
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