Barrick takes 9.9% stake in Kingfisher Metals in C$20.89 million unit subscription
GOLD•Ownership and use of proceeds
Barrick now holds 9.9% on a non-diluted basis, rising to 14.1% on a partially diluted basis assuming full warrant exercise.
At least 80% of the proceeds are earmarked for exploration and development at the HWY 37 project in British Columbia.
Barrick subscribes for Kingfisher units
Kingfisher closed a non-brokered private placement with Barrick subscribing for 15,470,934 units at C$1.35 each, raising C$20.89 million.
The units include one common share and one-half warrant; each whole warrant is exercisable at C$1.70 for two years.
