Skip to main content

Barrick to obtain shares in Royal Road Minerals

Published by , Assistant Editor
Global Mining Review,


Canadian gold mining company Barrick Gold Corp. (Barrick) has entered into a subscription agreement to acquire 9 875 876 ordinary shares of Canadian gold and copper focused mineral exploration company Royal Road Minerals Ltd in a non-brokered private placement at a price of CAN$0.16 per share for total consideration of CAN$1 580 140. The transaction is expected to close on or about 9 February 2018.

As a result of the transaction, Barrick will own 20 980 276 ordinary shares, representing approximately 12.5% of Royal Road’s issued and outstanding ordinary shares, on a non-diluted basis (after giving effect to the subscription by Barrick and a concurrent offering to other investors expected to be completed by Royal Road).  Barrick has acquired the ordinary shares for investment purposes. Depending on market conditions and other factors, including Royal Road’s business and financial condition, Barrick may, subject to the investor rights agreement entered into in connection with the transaction, acquire additional ordinary shares or other securities of Royal Road or dispose of some or all of the ordinary shares or other securities of Royal Road that it owns at such time.

Read the article online at: https://www.globalminingreview.com/finance-business/25012018/barrick-to-obtain-shares-in-royal-road-minerals/

You might also like

 EnviroTech

Ready to revolutionise the cement industry?

Join our sister publication, World Cement, in Lisbon, 10 – 13 March 2024, for their first in-person conference and exhibition: EnviroTech.

This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.

Get your early bird tickets NOW »

 

Pasofino Gold announces exploration update

Hummingbird has noted the recent announcement by Pasofino Gold Limited regarding the commencement of exploration activities at Bukon Jedeh, a high-priority target area within the Dugbe Gold Project, Liberia.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Canadian mining news