Barrick invests C$20.9M in Kingfisher

Barrick Mining announced a non-brokered private placement to subscribe for 15,470,934 units of Kingfisher Metals at C$1.35 per unit, totaling approximately C$20.9 million. Each unit consists of one common share and half a warrant exercisable at C$1.70 for two years. Post-closing, Barrick will hold about 9.9% of Kingfisher's outstanding shares (14.1% partially diluted). The parties will enter an investor rights agreement granting Barrick anti-dilution and information rights over Kingfisher's Highway 37 Project in British Columbia, Canada, and restricting Kingfisher from selling the project without Barrick's consent for two years. Barrick also agreed to a standstill limiting its ownership to 15% (19.9% if a third party acquires 10% or more) and an 18-month lockup. A technical committee will be formed, and Barrick will provide technical support for the 2027-2028 drilling seasons.