Barrick Announces Partial Monetization of Investment in Shandong Gold and Continuing Strong Partnership
June 16 2020 - 10:59AM
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) today
announced that it has sold 79,268,800 shares of Shandong Gold
Mining Co., Ltd. (“Shandong Gold”), at a price of HK$20.50 per
share for gross proceeds of approximately US$210 million. Barrick
purchased the shares in the fourth quarter of 2018 at a cost basis
of HK$10.50 per share.
Barrick continues to hold 10,250,000 shares of
Shandong Gold, representing a 2.05% interest in Shandong Gold’s
Hong-Kong listed (H-class) shares, re-affirming its commitment to
the strong existing long-term strategic partnership between the two
companies.
The shares were sold by an accelerated book
building process and were placed primarily with new and existing
institutional shareholders of Shandong Gold.
Morgan Stanley & Co. International plc acted
as Barrick’s Sole Placing Agent for the process.
A Disclosure of Interests form will be filed by
Barrick in accordance with Hong Kong securities laws.
Enquiries:
Kathy du PlessisInvestor and Media Relations +44 20
7557 7738Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking
Information
Certain information contained in this press
release constitutes “forward-looking statements”. All statements,
other than statements of historical fact, are forward-looking
statements. The words “will”, “commitment”, “strategic”,
“partnership” and similar expressions identify forward-looking
statements. In particular, this press release contains
forward-looking statements including, without limitation, with
respect to Barrick’s shareholding position in, and strategic
partnership with, Shandong Gold. Forward-looking statements
are necessarily based upon a number of assumptions, including
material assumptions considered reasonable by Barrick as at the
date of this press release in light of management’s experience and
perception of current conditions and expected developments, and are
inherently subject to significant business, economic, and
competitive uncertainties and contingencies.
Many of these uncertainties and contingencies
can affect our actual results and could cause actual results to
differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, us. Readers
are cautioned that forward-looking statements are not guarantees of
future performance. All of the forward-looking statements made in
this press release are qualified by these cautionary statements.
Specific reference is made to the most recent Form 40-F/Annual
Information Form on file with the SEC and Canadian provincial
securities regulatory authorities for a more detailed discussion of
some of the factors underlying forward-looking statements, and the
risks that may affect Barrick’s ability to achieve the expectations
set forth in the forward-looking statements contained in this press
release.
Barrick disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
by applicable law.
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