Barrick Gold announces sale of shares of Skeena Resources

Barrick Gold (GOLD) announced that it has entered into a purchase and sale agreement dated March 23, 2022 with a Canadian investment dealer pursuant to which Barrick agreed to sell, and the Dealer agreed to purchase, 8,831,250 common shares of Skeena Resources (SKE) for resale on a bought deal basis, on and subject to the terms and conditions set forth in the Purchase Agreement. The gross consideration for the common shares consists of cash in the aggregate amount of C$132,468,750. Immediately prior to the closing of the Disposition, Barrick will have beneficial ownership of, or control and direction over, 8,831,250 common shares of Skeena, representing approximately 12.9% of the issued and outstanding common shares of Skeena, 2,812,500 of which were acquired as a result of Barrick exercising 2,812,500 common share purchase warrants on March 23, 2022. Immediately following the closing of the Disposition, Barrick will not have beneficial ownership of, or control or direction over, any of Skeena's issued and outstanding common shares. Barrick is proceeding with the Disposition for investment portfolio management purposes. Depending on market conditions and other factors, including Skeena's business and financial condition, Barrick may, acquire securities of Skeena or dispose of some or all of the securities of Skeena that it may own at such time.