The Mineral Lease and Option to Purchase Agreement between a subsidiary of BFGC and Barrick dated
As previously announced by BFGC, in consideration, Barrick will receive 54,600,000 units (“Units”). Each Unit is comprised of one share of common stock of BFGC and one whole warrant that entitles the holder to purchase one share of capital stock (a “Share”) in BFGC at an exercise price of
Concurrently,
The closing of the transactions are inter-conditional and subject to other customary conditions.
Barrick is acquiring the Units in BFGC for investment purposes. Depending on market conditions and other factors, including BFGC’s business and financial condition, Barrick may acquire additional Units or other securities of BFGC or dispose of some or all of the Units or other securities of BFCG that it owns at such time.
In connection with the transaction, Barrick, Augusta and BFGC will enter into an investor rights agreement on closing pursuant to which, among other rights, so long as Barrick maintains a minimum of 10% ownership in BFGC, Barrick will be granted the right to appoint one director to BFGC’s Board of Directors and the right to participate in future BFGC equity issuances to maintain its then-current pro rata interest in BFGC.
An early warning report will be filed by Barrick in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact
Barrick is a senior gold mining company organized under the laws of the Province of
Barrick Enquiries:
Investor and Media Relations
+44 20 7557 7738
Email: 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 disposition of the Target to and investment in BFGC constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “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 expected completion of the transaction, Barrick’s acquisition or disposition of securities of BFGC in the future and Barrick’s governance and other rights in relation to BFGC following closing. 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 not to put undue reliance on forward-looking statements which are not guarantees of future events, and speak only as of the date made. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the
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