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Barrick Gold (NYSE:ABX)(TSX:ABX) (“Barrick”) announced today that it has entered into a subscription agreement to acquire 9,875,876 ordinary shares of Royal Road Minerals Limited (TSX-V:RYR) (“Royal Road”) in a non-brokered private placement at a price of $0.16 per share for total consideration of $1,580,140. The transaction is expected to close on or about February 9, …
Barrick Gold (NYSE:ABX)(TSX:ABX) (“Barrick”) announced today that it has entered into a subscription agreement to acquire 9,875,876 ordinary shares of Royal Road Minerals Limited (TSX-V:RYR) (“Royal Road”) in a non-brokered private placement at a price of $0.16 per share for total consideration of $1,580,140.
The transaction is expected to close on or about February 9, 2018. As a result of the transaction, Barrick will own 20,980,276 ordinary shares, representing approximately 12.5% of Royal Road’s issued and outstanding ordinary shares, on a non-diluted basis (after giving effect to the subscription by Barrick and a concurrent offering to other investors expected to be completed by Royal Road).
Barrick has acquired the ordinary shares for investment purposes.