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Barrick Gold Announces Further Investment in Midas Gold

Mining News - Published on Fri, 14 Jun 2019

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Barrick Gold Corporation announced that it will acquire 7,274,142 common shares of Midas Gold Corp as part of the public offering of common shares announced yesterday by Midas Gold. Barrick currently owns 46,551,731 common shares of Midas Gold, representing approximately 19.6 percent of the outstanding common shares of Midas Gold, on a non-diluted basis. The Offering is expected to close on or about June 19, 2019, following which Barrick will own approximately 19.9 percent of the outstanding common shares of Midas Gold, on a non-diluted basis. Barrick will purchase the additional common shares of Midas Gold at the Offering price of C$0.60 per share, for aggregate consideration of approximately C$4.4 million.

Barrick is acquiring the common shares for investment purposes. Depending on market conditions and other factors, including Midas Gold’s business and financial condition, Barrick may, subject to the terms of the investor rights agreement previously entered into by Barrick and Midas Gold, acquire additional common shares or other securities of Midas Gold or dispose of some or all of the common shares or other securities of Midas Gold that it owns at such time.

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Posted By : Mohan Sharma on Fri, 14 Jun 2019
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