The agreement covers 15.5 million units priced at C$1.35 each. Each unit includes a full common share and one-half of a purchase warrant, allowing Barrick to acquire additional shares at C$1.70. This structure positions Barrick with a 9.9% stake on a nondiluted basis, potentially climbing to 14.1% should the firm exercise its warrants. Beyond the equity purchase, the deal provides Barrick with information rights and anti-dilution protections, provided its ownership interest remains above the 5% threshold.
Barrick Gold Takes 10% Stake in Kingfisher Metals
Barrick Gold has moved to secure a foothold in Kingfisher Metals, investing C$20.9 million to acquire a nearly 10% stake in the junior explorer. The deal, executed through a nonbrokered private placement, grants the Toronto-based mining giant significant equity and potential for future expansion in the TSX Venture-listed company.
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