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.