Barrick Gold Corp. has acquired 48 million common shares of Reunion Gold Corp. in a non-brokered private placement at a price of US$0.19 per share for total consideration of US$9.12 million.
As a result of the transaction, Barrick owns 48 million common shares, representing approximately 15% of Reunion’s issued and outstanding common shares, on a non-diluted basis (after giving effect to the transaction).
Barrick acquired the common shares for investment purposes. Depending on market conditions and other factors, including Reunion’s business and financial condition, Barrick may, subject to the investor rights agreement entered into in connection with the transaction, acquire additional common shares or other securities of Reunion or dispose of some or all of the common shares or other securities of Reunion that it owns at such time.
An early warning report will be filed by Barrick in accordance with applicable securities laws.
Read the article online at: https://www.globalminingreview.com/finance-business/05122017/barrick-invests-in-reunion-gold/