Barkerville Announces Closing of Sale of 0.75% NSR Royalty and Acquisition of Additional Mineral Claims in Cariboo Mining District
Apr 19, 2017, 13:41 ET
TORONTO, April 19, 2017 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) ("Barkerville" or the "Company") announces that it has closed the sale of a 0.75% net smelter return ("NSR") royalty to Osisko Gold Royalties Ltd on the Company's Cariboo Gold Project for aggregate proceeds of $12.5 million, as previously announced on March 27, 2017.
Barkerville is also pleased to announce that it has entered into a Mining Claim Acquisition Agreement pursuant to which Barkerville has agreed to acquire a 100% interest in the Yanks Peak Claims comprised of 10 mineral claims located in the Cariboo Mining District, British Columbia, in exchange for (a) an aggregate of CDN$50,000; and (b) an aggregate of 250,000 common shares of Barkerville issuable to the vendors of the claims.
The issuance of the common shares pursuant to the Mining Claim Acquisition Agreement will be subject to receipt of all necessary approvals, including that of the TSX Venture Exchange and will be subject to a statutory hold period of four months and one day from the date of issuance.
Cautionary Statement on Forward-Looking Information
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE Barkerville Gold Mines Ltd.
For further information: on Barkerville Gold Mines Ltd., please contact: Chris Lodder, President & Chief Executive Officer, Suite 400-365 Bay Street, Toronto, Ontario, Canada, [email protected]
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