Soooo! What's next- Williams Creek Official
Barkerville Gold Completes Acquisition of Williams Creek Gold
2016-08-16 09:00 ET - News Release
(via Thenewswire.ca)
August 16, 2016 / TheNewswire / Toronto, Ontario and Vancouver, British Columbia - Barkerville Gold Mines Ltd. (TSXV: BGM) (" Barkerville ") and Williams Creek Gold Limited (" Williams Creek ") (TSXV: WCX) are pleased to announce that Barkerville has acquired all of the issued and outstanding common shares of Williams Creek by way of plan of arrangement under the Business Corporations Act (British Columbia) (the " Arrangement "). The Arrangement was approved by shareholders of Williams Creek at a special meeting of shareholders held on August 8, 2016 and approved by the Supreme Court of British Columbia on August 11, 2016.
Pursuant to the terms of the Arrangement, Williams Creek shareholders are now entitled to receive 0.062352572 of a common share of Barkerville (each whole common share, a " Barkerville Share ") for each one common share of Williams Creek (a " Williams Creek Share ") held by such Williams Creek shareholders. In total, Barkerville has issued 6,799,989 Barkerville Shares in exchange for all of the issued and outstanding Williams Creek Shares held by Williams Creek shareholders.
Effective today, Williams Creek has become a wholly owned subsidiary of Barkerville and, collectively, former shareholders of Williams Creek will hold approximately 2.25% of the issued and outstanding Barkerville Shares and the Williams Creek Shares will be delisted from the TSX Venture Exchange.
In order to receive their Barkerville Shares, Williams Creek shareholders are required to surrender their Williams Creek Share certificates to the depositary, Computershare Investor Services Inc., together with a properly completed letter of transmittal. A copy of the letter of transmittal was mailed to the registered shareholders of Williams Creek and is also available for viewing on SEDAR under the Williams Creek profile at www.sedar.com .
About Barkerville:
Barkerville is focused on developing its extensive land package located in the historical Cariboo Mining District of central British Columbia. Barkerville's mineral tenures cover 1,164 square kilometres along a strike length of 60 kilometres which includes several past producing hard rock mines of the historic Barkerville Gold Mining Camp near the town of Wells, British Columbia. The QR Project, located approximately 110 kilometres by highway and all weather road from Wells was acquired by Barkerville in 2010 and boasts a fully permitted 900 tonne/day gold milling and tailings facility. Test mining of the Bonanza Ledge open pit was completed in March of 2015 with 91,489 tonnes of ore milled producing 25,464 ounces of gold. Barkerville has completed a number of drilling and exploration programs over the past 20 years and is currently compiling this data with all historical information in order to develop geologic models which will assist new management and provide the framework to continue to explore the Cariboo Gold Project. An extensive drill program is currently underway with the goal of delineating additional high grade gold mineralization.
For further information on Barkerville Gold Mines Ltd. , please contact:
Chris Lodder
President & Chief Executive Officer