Kingfisher Metals – Barrick Mining Comes In As Strategic Shareholder To Participate In The Exploration Potential At The Hwy 37 Project
About this episode
Dustin Perry discusses Kingfisher Metals' agreement with Barrick Mining for a significant investment in the Hwy 37 Project.
Dustin Perry, Founder and CEO of Kingfisher Metals Corp. (TSXV:KFR) (OTCQB:KGFMF) (FSE:970), joins me to outline the news out today announcing that it has entered into an agreement with Barrick Mining Corporation; whereby Barrick has agreed to purchase 15,470,934 units of Kingfisher in a non-brokered private placement at a price of C$1.35 per Unit for gross proceeds of C$20,885,761. Each Unit consists of one common share of Kingfisher and 0.5 of a common share purchase warrant. Each Warrant will have a term of two years and each whole Warrant will entitle the holder thereof to purchase one Kingfisher Share for a price of C$1.70 per Kingfisher Share. The Placement will result in Barrick owning approximately 9.9% of the issued and outstanding Kingfisher Shares on a non-diluted post-transaction basis and 14.1% of the outstanding Kingfisher Shares on a partially diluted post-transaction basis, assuming exercise of all Warrants. The Company has agreed to use at least 80% of the proceeds from the Placement for exploration and development of the HWY 37 Project, located in the Golden Triangle, British Columbia; with the balance for general working capital and other purposes. Closing of…
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