Hercules Silver Corp. announced that it has received CAD 23.391907 million in funding from Barrick Gold Corporation
On November 7, 2023, Hercules Silver Corp. closed the transaction. The company issued 21,265,370 units at a price of CAD 1.10 per unit for the gross proceeds of CAD 23,391,907. With the closing of the placement, Barrick now owns 12.33% of the issued and outstanding shares on a non-diluted post-transaction basis and 15.02% of the outstanding shares on a partially-diluted post-transaction basis, assuming exercise of all warrants.
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from single placee.