RE:RE:RE:Greg Gibson resignschillyballs-Just in case you forgot whoowns what in BGM. Sprott still does.
TORONTO, ON/TheNewswire /August 9, 2016 –Barkerville Gold Mines Ltd.(TSXV: BGM) (the “Company”) announces that2176423 Ontario Ltd., a company controlled by Eric Sprott, the controlling shareholder of the Company (“2176423”), has entered into an agreement with Osisko Mining Inc. (“Osisko”), pursuant to which it will sell an aggregate of 50,000,000 common shares of the Company (the “Barkerville Shares”) representing approximately 17% of the outstanding Barkerville Shares. 2176423 agreed to sell 25,000,000 Barkerville Shares in exchange for 8,097,166 common shares of Osisko. 2176423 further agreed to sell the remaining 25,000,000 Barkerville Shares for an aggregate purchase price of $20,000,000, payable in cash. The Barkerville Shares were acquired by Osisko at a price of $0.80 per Barkerville Share.
Following the sale, the following will be the major shareholders of the Company:
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-Eric Sprott: holding, directly and indirectly, 55,281,643 Barkerville Shares, representing 18.8% of the issued and outstanding Barkerville Shares;
-Osisko Gold Royalties Ltd.: holding 47,625,000 Barkerville Shares, representing 16.2% of the issued and outstanding Barkerville Shares; and
-Osisko Mining Corp.: holding 50,000,000 Barkerville Shares, representing 17% of the issued and outstanding Barkerville Shares.
For further information on Barkerville Gold Mines Ltd., please contact:
Chris Lodder
President & Chief Executive Officer
clodder@barkervillegold.com
About Barkerville Gold Mines Ltd.
The Company 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. The Company 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 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
Read more at https://www.stockhouse.com/news/press-releases/2016/08/09/barkerville-gold-mines-announces-sale-of-shares-by-controlling-shareholder-to#ouv6VxK7EBKLdRQf.99wns what in BGM.This is really who owns what in BGM.