08:04:54 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,778,068,071
Close 2020-10-02 C$ 37.11
Market Cap C$ 65,984,106,115
Recent Sedar Documents

Barrick Gold completes sale of Eskay Creek project

2020-10-05 09:15 ET - News Release

An anonymous director reports

BARRICK COMPLETES ESKAY CREEK TRANSACTION

Barrick Gold Corp. has completed the recently announced transaction, pursuant to which Skeena Resources Ltd. exercised its option to acquire the Eskay Creek project, and Barrick waived its back-in right on the Eskay Creek project.

As previously announced, consideration for the transaction consists of: (i) the issuance by Skeena of 22.5 million units, with each unit comprising one common share of Skeena and one-half of a warrant, with each whole warrant entitling Barrick to purchase one additional common share of Skeena at an exercise price of $2.70 until the second anniversary of the closing date; (ii) the grant of a 1-per-cent net smelter return royalty on the entire Eskay Creek land package; and (iii) a contingent payment of $15-million, payable during a 24-month period after closing.

Barrick holds 24,075,000 Skeena common shares, representing approximately 12.4 per cent of Skeena's issued and outstanding common shares (calculated on a non-diluted basis). Assuming the exercise in full of all of the warrants issued pursuant to the transaction, Barrick will hold 35,325,000 common shares, representing approximately 17.2 per cent of Skeena's issued and outstanding common shares.

For further details regarding the transaction, please refer to Barrick's news release dated Aug. 4, 2020, on the Barrick website or on SEDAR.

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