Barrick Mining agrees to buy C$20.89 million stake in Kingfisher Metals via private placement

Barrick Mining agreed to buy 15,470,934 units of Kingfisher Metals in a non-brokered private placement for about C$20.89 million.

Units are priced at C$1.35 each and include one share plus a half-warrant exercisable at C$1.70 for two years.

The post-closing stake is set at about 9.9% on a non-diluted basis, rising to 14.1% on a partially diluted basis assuming warrant exercise.

An investor rights deal grants anti-dilution and information rights tied to Kingfisher’s Highway 37 project, conditional on Barrick maintaining at least 5% ownership.

A two-year standstill caps ownership at 15%, rising to 19.9% if a third party reaches 10%; an 18-month lockup also applies.