/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
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TORONTO, Nov. 20, 2019 /CNW/ - Barkerville Gold
Mines Ltd. (TSXV: BGM) ("Barkerville" or the
"Corporation") is pleased to announce that, on November 19, 2019, the Supreme Court of
British Columbia granted a final
order in respect of the proposed business combination with Osisko
Gold Royalties Ltd ("Osisko") to be implemented by way of a
statutory plan of arrangement under the provisions of the
Business Corporations Act (British
Columbia) (the "Arrangement").
Assuming that the remaining closing conditions are satisfied or
waived, Barkerville anticipates that closing of the Arrangement
will occur on November 21, 2019.
Transaction Background
On September 23, 2019, Osisko and
Barkerville entered into a definitive arrangement agreement,
whereby, subject to the terms and conditions of the arrangement
agreement, Osisko will acquire all of the issued and outstanding
common shares of Barkerville that it does not already own by way of
a statutory plan of arrangement under the provisions of the
Business Corporations Act (British
Columbia). In addition, pursuant to the Arrangement, all of
the outstanding options to acquire shares of Barkerville, to the
extent they have not been exercised prior to the effective time of
the Arrangement, will be exchanged for such number of options to
acquire shares of Osisko. Pursuant to the Arrangement, all
Barkerville RSUs outstanding immediately prior to the effective
time of the Arrangement will be cancelled, and Barkerville's RSU
plan will be terminated on closing of the Arrangement.
Under the terms of the Arrangement, shareholders of Barkerville
(other than Osisko) will be entitled to receive 0.0357 of a share
of Osisko in exchange for each share of Barkerville held
immediately prior to the effective time of the Arrangement.
Further details regarding the Arrangement are set out in the
management information circular of Barkerville dated October 15, 2019, which is available on SEDAR
(www.sedar.com) under Barkerville's issuer profile.
About Barkerville Gold Mines Ltd.
The Corporation is focused on developing its extensive mineral
rights package located in the historical Cariboo Mining District of
central British Columbia.
Barkerville's Cariboo Gold Project mineral tenures cover 1,950
square kilometres; along a strike length of 67 kilometres which
includes several past producing placer and hard rock mines, making
it one of the most well-endowed land packages in British Columbia. Since the management change
in mid-2015, the Corporation has unlocked the fundamental
structural controls of gold mineralization. Barkerville's
brownfields exploration team is focused on developing and
delineating a mineable resource within the 8 kilometres of
principle project area located near the town of Wells, British Columbia. Barkerville's
greenfields team is developing quality exploration assets
throughout the remaining land package through systematic,
scientific, exploration. The operation's team is focused on
completing required studies in order to permit underground mining
on Cow and Island Mountains.
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation based on
expectations, estimates and projections as at the date of this news
release. Forward-looking information involves risks, uncertainties
and other factors that could cause actual events, results,
performance, prospects and opportunities to differ materially from
those expressed or implied by such forward-looking information.
Although the Corporation believes that the assumptions and factors
used in preparing the forward-looking information in this news
release are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Corporation disclaims
any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein.
SOURCE Barkerville Gold Mines Ltd.
