Barrick Announces Investment in Precipitate Gold Corp.
14 Aprile 2020 - 2:31PM
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) has today
filed an early warning report (the “Early Warning Report”) advising
of its holdings in common shares (“Common Shares”) of Precipitate
Gold Corp. (“PGC”).
On April 13, 2020, Barrick, PGC and certain
affiliates of Barrick and PGC entered into an earn-in agreement
(the “Earn-In Agreement”) pursuant to which Barrick has been
granted the exclusive right to acquire a 70% interest in PGC’s
Pueblo Grande Project in the Dominican Republic on the terms and
conditions set out in the Earn-In Agreement (the “Earn-In
Transaction”). In connection with the Earn-In Transaction, Barrick
and PGC entered into a subscription agreement (the “Subscription
Agreement”) dated April 13, 2020 (the “Reportable Event”) pursuant
to which Barrick agreed to acquire, and PGC has agreed to issue to
Barrick, 12,713,636 Common Shares (the “Subscription Shares”)
from treasury on the terms and conditions set out in the
Subscription Agreement at a price of C$0.11 per Subscription Share
for an aggregate subscription price of C$1,398,500 (the
“Subscription”). Prior to the Reportable Event, Barrick did not
beneficially own, control or direct any Common Shares. The
Subscription Shares represent 13.67% of the outstanding Common
Shares (calculated on a non-diluted basis prior to giving effect to
the Subscription). As a result of the Reportable Event, Barrick
beneficially owns 12,713,636 Common Shares, representing
12.02% of the outstanding Common Shares (calculated on a
non-diluted basis after giving effect to the Subscription). The
closing of the Subscription is subject to approval of the TSX
Venture Exchange.
Barrick is acquiring the Subscription Shares for
investment purposes. Barrick may, from time to time, subject to an
agreement between Barrick and PGC, acquire additional Common Shares
or other securities of PGC or dispose of some or all of the Common
Shares or other securities of PGC that it owns at such time. Other
than the Earn-In Transaction, Barrick currently has no other plans
or intentions that relate to or would result in any of the actions
listed in paragraphs (a) through (k) of Item 5 of the Early
Warning Report, but depending on market conditions, general
economic conditions and industry conditions, the trading prices of
PGC’s securities, PGC’s business and financial condition and
prospects and/or other relevant factors, Barrick may develop such
plans or intentions in the future.
Barrick is a senior gold mining company governed
by 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.
PGC’s head office is located at 625 Howe Street, Suite 1020,
Vancouver, British Columbia, V6C 2T6.
To obtain a copy of the Early Warning Report,
please contact Kathy du Plessis, whose contact details are included
below.
Enquiries:
Kathy du PlessisInvestor and Media Relations +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 proposed
investment in PGC, constitutes “forward-looking statements”. All
statements, other than statements of historical fact, are
forward-looking statements. The words “announce”, “may”, “plan”,
“intend”, “right’, “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 Reportable Event and
Barrick’s acquisition or disposition of securities of PGC 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 Barrick’s ability to achieve the expectations
set forth in 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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