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Posted On: 09/09/2020 3:35:27 PM
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NetworkNewsBreaks – Bullfrog Gold Corp. (CSE: BFG) (OTCQB: BFGC) (FSE: 11B) Announces Strategic Transaction, New Cornerstone Shareholders
Bullfrog Gold Corp. (CSE: BFG) (OTCQB: BFGC) (FSE: 11B), on Tuesday announced its entry into a binding term sheet to acquire rights to 1,500 acres adjoining the company’s Bullfrog Gold Deposit from Barrick Gold Corporation (TSX: ABX) (NYSE: GOLD) and a C$22 million financing to be completed by Augusta Investments Inc. Among the highlights of the transaction, Barrick and Augusta will become new cornerstone shareholders, with Barrick to own 15.9% and Augusta to own 31.9% of Bullfrog’s shares outstanding after closing, calculated on an undiluted basis. “This is potentially another value-creating transaction which, once completed will consolidate assets to create an exciting new mining project, led by a skilled team and with strong financial backing,” Barrick president and CEO, Mark Bristow, said in the news release. “It is also in line with Barrick’s strategy of bringing non-core assets to account.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Bullfrog Gold Corp. (CSE: BFG) (OTCQB: BFGC) (FSE: 11B), on Tuesday announced its entry into a binding term sheet to acquire rights to 1,500 acres adjoining the company’s Bullfrog Gold Deposit from Barrick Gold Corporation (TSX: ABX) (NYSE: GOLD) and a C$22 million financing to be completed by Augusta Investments Inc. Among the highlights of the transaction, Barrick and Augusta will become new cornerstone shareholders, with Barrick to own 15.9% and Augusta to own 31.9% of Bullfrog’s shares outstanding after closing, calculated on an undiluted basis. “This is potentially another value-creating transaction which, once completed will consolidate assets to create an exciting new mining project, led by a skilled team and with strong financial backing,” Barrick president and CEO, Mark Bristow, said in the news release. “It is also in line with Barrick’s strategy of bringing non-core assets to account.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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