TORONTO – Almost as soon as it announced it was floating a bought deal private placement for $15 million, Barkerville Gold Mines
announced that the deal had increased to $23.5 million.
A syndicate of underwriters led by Haywood Securities have agree to purchase 24.74 million units at a price of $0.95 each. Each unit consists of one Barkerville common share and one half of one share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $1.30 for a period of 18 months after the closing of the upsized offering.
Barkerville also intends to complete a concurrent non-brokered private placement for gross proceeds of approximately $15.8 million through the sale of 16.7 million units under the same terms to Osisko Gold Royalties
and Osisko Mining
Barkerville will use the proceeds of both offerings to advance its gold project in British Columbia. The company has received the needed permits to begin development and mining of the Bonanza Ledge deposit near Wells, B.C. Ore will begin to be processed later this year at the 900-t/d QR mill 110 km from the mine. Test mining in 2015 produced 25,656 oz. of gold.
More news about the company’s activity in the Cariboo Gold Belt is available at www.BarkervilleGold.com.