Barrick Announces Additional Investment in Hercules Silver
November 13 2023 - 6:00AM
Barrick Gold Corporation
(NYSE:GOLD)(TSX:ABX) (“
Barrick”) announced
today that on November 10, 2023, it purchased 7,000,000 warrants to
purchase common shares of Hercules Silver Corp.
(“
Hercules”) for total consideration of
C$6,580,000. The warrants were immediately exercised at their
exercise price of C$0.11 per Hercules common share.
Prior to its acquisition and exercise of the
warrants, Barrick owned 26,556,870 common shares of Hercules and
6,804,918 warrants, representing approximately 12.33% of the
outstanding Hercules common shares on a non-diluted basis, and
15.02% on a partially-diluted basis. Barrick now owns 33,556,870
common shares and 6,804,918 warrants of Hercules, representing
approximately 15.09% of the outstanding Hercules common shares on a
non-diluted basis, and 17.61% on a partially-diluted basis.
Barrick acquired the Hercules shares for investment
purposes. Barrick may, depending on market conditions and other
factors, acquire additional shares, warrants or other securities of
Hercules, or dispose of some or all of the Hercules shares,
warrants or other securities of Hercules that it owns at such
time.
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 Kathy du Plessis, whose
contact details are included below.
Barrick is a senior gold mining company organized
under the laws of the Province of British Columbia. Barrick’s
corporate office is located at Brookfield Place, TD Canada Trust
Tower, Suite 3700, 161 Bay Street, P.O. Box 212, Toronto, Ontario
M5J 2S1. Hercules’ head office is located at 100 King St. West, 1
First Canadian Place Suite, 1600 Toronto, Ontario M5X 1G5.
Enquires:
Investor and Media RelationsKathy du Plessis+44 20
7557 7738Email: 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 ownership by
Barrick of common shares and warrants of Hercules 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 Barrick’s
potential acquisition or disposition of securities of Hercules in
the future. 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 that
forward-looking statements are not guarantees of future
performance. All of the forward-looking statements made in this
press release are qualified by these cautionary statements.
Specific reference is made to the most recent Form 40-F/Annual
Information Form on file with the SEC and Canadian provincial
securities regulatory authorities for a more detailed discussion of
some of the factors underlying forward-looking statements and the
risks that may affect the forward-looking statements contained in
this press release.
Barrick disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
by applicable law.
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