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Osisko Gold Royalties to increase Barkerville Gold Mines stakes to 35.2%

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Osisko Gold Royalties to increase Barkerville Gold Mines stakes to 35.2%

Osisko Gold Royalties Ltd. said March 29 that it signed a binding purchase agreement to acquire 55,281,643 common Barkerville Gold Mines Ltd. shares at 50.9 Canadian cents apiece, for a total of about C$28.1 million, increasing its Barkerville shareholding to about 35.2%.

The Barkerville shares will be acquired from Eric Sprott-controlled company 2176423 Ontario Ltd., leaving Sprott with 3.26 million indirectly-held Barkerville warrants representing about 1% of the company's outstanding shares on a partially diluted basis.

Osisko previously owned an 18.5% Barkerville shareholding, and the company noted that its acquisition of additional Barkerville shares is for investment purposes. The company also recently signed a deal to increase its net smelter royalty over Barkerville's Cariboo gold project in British Columbia to 2.25%.