All amounts expressed in Canadian dollars unless otherwise indicated
TORONTO, Dec. 14, 2018 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick”) announced
today that it has agreed to exercise its participation right in connection with a private placement offering by Reunion Gold
Corporation (TSX-V:RGD) (“Reunion”). Barrick has agreed to acquire up to an additional 12,600,000 common shares of Reunion at a
price of $0.18 per share. The aggregate consideration to be paid by Barrick in the offering is $2,268,000. The Reunion offering is
expected to close on or about December 20, 2018.
As a result of its additional investment, Barrick will own a total of 60,600,000 Reunion shares, leaving its
interest in Reunion unchanged at approximately 15.0% of Reunion’s issued and outstanding common shares, determined on a non-diluted
basis after giving effect to the offering.
Under the terms of the investor rights agreement entered into between Barrick and Reunion in connection with
Barrick’s initial investment in Reunion on December 1, 2017, so long as Barrick holds not less than 10% of the then issued and
outstanding shares of Reunion, Barrick will, among other things, have a right of first refusal in connection with the sale by
Reunion of any interest in any of its mineral projects, and will have the right to assign one or more geologists to work full time
on any or all of Reunion’s mineral projects.
Reunion is an exploration and development company focused on acquiring, exploring and developing gold projects
in the highly prospective Guiana Shield of South America. Barrick holds its Reunion common shares for investment purposes.
Depending on market conditions and other factors, including Reunion’s business and financial condition, Barrick may, subject to the
investor rights agreement between Barrick and Reunion dated December 1, 2017, acquire additional common shares or other securities
of Reunion or dispose of some or all of the common shares or other securities of Reunion that it owns at such time.
An early warning report will be filed by Barrick in accordance with applicable securities laws. To obtain a copy
of the early warning report, please contact Andy Lloyd, whose contact details are included below.
Barrick is a senior gold mining company organized under the laws of the Province of British Columbia. Barrick’s
head office is located at Brookfield Place, TD Canada Trust Tower, Suite 3700, 161 Bay Street, P.O. Box 212, Toronto, Ontario
M5J 2S1. Reunion’s registered office is located at Brookfield Place, Suite 440, 181 Bay Street, Toronto, Ontario M5J 2T3.
INVESTOR CONTACT
Deni Nicoski
Senior Vice President,
Investor Relations
Telephone: +1 416 307-7474
Email: dnicoski@barrick.com
MEDIA CONTACT
Andy Lloyd
Senior Vice President,
Communications
Telephone: +1 416 307-7414
Email: alloyd@barrick.com
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
The information in this press release has been prepared as at December 14, 2018. Certain information contained
in this press release, including any information relating to the Reunion offering constitutes “forward-looking statements”. All
statements, other than statements of historical fact, are forward-looking statements. The words “may”, “will” and similar
expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including,
without limitation, with respect to the anticipated completion of the offering by Reunion, acquisition of Reunion shares by Barrick
in the offering and Barrick’s acquisition or disposition of securities of Reunion in the future. Forward-looking statements are
necessarily based upon a number of assumptions, including material assumptions considered reasonable by Barrick as at the date of
this press release in light of management’s experience and perception of current conditions and expected developments, and are
inherently subject to significant business, economic, and competitive uncertainties and contingencies.
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to
differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are
cautioned not to put undue reliance on forward-looking statements which are not guarantees of future events, and speak only as of
the date made. All of the forward-looking statements made in this press release are qualified by these cautionary statements.
Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial
securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise, except as required by applicable law.
