Osisko Gold Royalties Ltd. and Barkerville Gold Mines Ltd. have successfully completed their previously announced business combination, where Osisko will acquire all of the issued and outstanding common shares of Barkerville it did not already own. It was finalized on November 21, resulting in Barkerville becoming a wholly-owned subsidiary of Osisko.
Under the terms, each former shareholder of Barkerville is entitled to receive 0.0357 of a common share of Osisko in exchange for each common share of Barkerville.
“We are pleased to have concluded this transaction with Barkerville, and look forward to leveraging our industry-leading technical team, with a proven track record of creating value through resource discovery, project development and mine operation, to create value for Osisko’s shareholders and to realize the potential upside of the Cariboo project,” Chair and CEO Sean Roosen said. “We would like to thank Barkerville’s board of directors, management and shareholders for their hard work and support of this transaction.”
Following the completion of the arrangement, the board of directors of Barkerville has been reconstituted to include Roosen, Bryan A. Coates, Luc Lessard and Chris Lodder.