Business
Barrick Gold completes Strategic Investment in Midas Gold to advance the Stibnite Gold Project, Idaho
Barrick invests US$38 million to purchase 19.9% interest at C$1.06 per share VANCOUVER, British Columbia, May 16, 2018 (GLOBE NEWSWIRE) -- Midas Gold Corp. (TSX
About this update from Perpetua Resources Corp.
[{"type":"text","content":" Barrick invests US$38 million to purchase 19.9% interest at C$1.06 per share VANCOUVER, British Columbia, May 16, 2018 (GLOBE NEWSWIRE) -- Midas Gold Corp. (TSX:MAX) (OTCQX:MDRPF) (“Midas Gold” or the “Company”) today announced that Barrick Gold Corporation (NYSE:ABX) (TSX:ABX) (“Barrick”) has purchased 46,551,731 common shares of Midas Gold in a non-brokered private placement (the “Placement”) at a price of C$1.06 per share for gross proceeds of US$38,065,907. As a result of the Placement, Barrick owns 19.9% of the issued and outstanding shares in Midas Gold on closing. Barrick’s investment supports Midas Gold’s continued efforts to complete a feasibility study and permitting of the Stibnite Gold Project, a world class mining operation that can address legacy environmental impacts and generate economic benefits for the local community. Transaction Details Additional transaction details can be found in Midas Gold’s news release dated May 9, 2018 and in Midas Gold’s filings made on SEDAR, available at www.sedar.com. Advisors Haywood Securities Inc. acted as financial advisor to Midas Gold. DuMoulin Black LLP acted as Canadian legal counsel to Midas Gold and Davies Ward Phillips & Vineberg LLP acted as Canadian legal counsel to Barrick. For further information about Midas Gold Corp., please contact: Liz Monger -- Manager, Investor Relations (t): 778.724.4704(e): [email protected] Facebook: www.facebook.com/midasgoldidaho Twitter: @MidasIdahoWebsite: www.midasgoldcorp.com About Midas Gold and the Stibnite Gold Project Midas Gold Corp., through its wholly owned subsidiaries, is focused on the exploration and, if warranted, site restoration and development of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by its Stibnite Gold Project. As operator of the Project, Midas Gold’s subsidiary, Midas Gold Idaho, Inc. is a modern mining company that believes that industry and the environment can work together. Commencing in 2009, Midas Gold defined a world-class deposit of gold and antimony in an area in need of serious environmental repair. The Stibnite Gold Project, as proposed in the Plan of Restoration and Operations currently being reviewed by regulators, would restore the site, create economic opportunity and benefit the surround...