Barrick Receives Shares of Cascadia Minerals Pursuant to Previously Announces Spinout
July 14 2023 - 7:00AM
Barrick Gold Corporation
(NYSE:GOLD)(TSX:ABX) (“
Barrick”) announced
today that on July 12, 2023 it received 2,788,696 common shares of
Cascadia Minerals Ltd. (“
Cascadia”) as partial
consideration for the acquisition by Hecla Mining Company
(“
Hecla”) of all of the common shares of ATAC
Resources Ltd. (“
ATAC”) pursuant to the previously
announced plan of arrangement among Hecla, Alexco Resource Corp.
and ATAC (the “
ATAC Arrangement”).
The Cascadia common shares owned by Barrick
represent approximately 10.1% of Cascadia’s issued and outstanding
common shares. Prior to completion of the ATAC Arrangement and the
spin-out of Cascadia pursuant to that transaction, Barrick owned
27,886,960 common shares of ATAC, but did not own any securities of
Cascadia.
Barrick is holding the common shares of Cascadia
for investment purposes. Depending on market conditions and other
factors, including Cascadia’s business and financial condition,
Barrick may acquire additional common shares or other securities of
Cascadia or dispose of some or all of the common shares or other
securities of Cascadia 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. Cascadia’s head office is located at
Suite 1500 - 409 Granville Street Vancouver, British Columbia V6C
1T2.
Enquires:
Investor and Media RelationsKathy du Plessis+44 20
7557 7738Email: barrick@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 ownership by
Barrick of common shares of Cascadia 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 Barrick’s potential acquisition or disposition of
securities of Cascadia 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 that
forward-looking statements are not guarantees of future
performance. All of the forward-looking statements made in this
press release are qualified by these cautionary statements.
Specific reference is made to the most recent Form 40-F/Annual
Information Form on file with the SEC and Canadian provincial
securities regulatory authorities for a more detailed discussion of
some of the factors underlying forward-looking statements and the
risks that may affect the forward-looking statements contained in
this press release.
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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