Barkerville Gold Mns Ltd BGMZF

Sprott bought big

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On 2012-12-10, a news release advised that Sprott's 2176423 Ontario Ltd bought two million shares of GCC at 25 cents per share for $500,000.

Unfortunately, GCC's 1,857,393 BGM shares are already hypothecated to Sprott's 2176423 Ontario Ltd in the term sheet for the $15-million gold loan.

Aweel, better safe than sorry.

"The facility is to be guaranteed by the company's subsidiaries, and secured by a first-ranking security over all of the credit parties' present and future assets and a pledge of the shares of the company's subsidiaries."

Golden Cariboo six-million-share private placement

2012-12-10 18:46 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Nov. 6, 2012.

Number of shares: Six million shares

Purchase price: 25 cents per share

Warrants: Three million share purchase warrants to purchase three million shares

Warrant exercise price: 35 cents for a one-year period

Number of placees: 30 placees

Insiders: 2176423 Ontario Ltd. (Eric Sprott), two million; Minaz Dhanani, 20,000

Pro group: Bukchuk Holding (Chan Buckland), 400,000