Barrick’s Interest in Reunion Gold Corporation Decreases Below 10%
PRESS RELEASE
NYSE : GOLD TSX : ABX
Barrick’s Interest in Reunion Gold Corporation Decreases
Below 10%
TORONTO, March 11, 2022 – Barrick Gold Corporation (“Barrick”) (NYSE:GOLD)(TSX:ABX) announced today
that following the completion by Reunion Gold Corporation (“Reunion”) of its bought deal private placement
common share offering on February 24, 2022 (the “Private Placement”), Barrick’s interest in Reunion has decreased
below 10% to approximately 9.9875% of Reunion’s issued and outstanding common shares. Barrick did not
participate in the Private Placement and continues to own 81,150,000 common shares of Reunion (the “Reunion
Shares”).
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, as amended, Barrick was entitled to certain rights for
so long as Barrick held not less than 10% of the issued and outstanding common shares of Reunion. As a result
of Barrick’s interest in Reunion decreasing below 10%, such rights have terminated. Barrick continues to have a
right of first refusal under the investor rights agreement in respect of certain mineral projects that are subject to the
strategic alliance agreement entered into between Barrick and Reunion on February 3, 2019 as well as Reunion’s
Dorlin, Haute Mana and Boulanger Projects.
An early warning report will be fil ed by Barrick in accordance with applicable securities laws (the “Early Warning
Report”). To obtain a copy of the Early Warning Report, please contact Kathy du Plessis, whose contact details
are included below. The Early Warning Report amends information disclosed in an earlier report filed by Barrick
dated February 5, 2019. As of the filing of the earlier report, Barrick beneficially owned the Reunion Shares,
representing beneficial ownership of approximately 1 9.9% of the then issued and outstanding Reunion common
shares (determined on a non- diluted basis). Immediately following the Private Placement, Barrick continued to
beneficially own the Reunion Shares and no other common shares of Reunion, representing beneficial ownership
of approximately 9.9875% of Reunion’s issued and outstanding common shares (determined on a non- diluted
basis).
Barrick holds the Reunion Shares for investment purposes. Barrick may, from time to time, 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. Subject to its rights under the investor rights agreement and the strategic
alliance agreement, Barrick currently has no other plans or intentions that relate to or would result in any of the
actions listed in paragraphs (a) through (k) of Item 5 of the Early Warning Report, but depending on market
conditions, general economic conditions and industry conditions, the trading prices of Reunion securities, Reunion’s
business and financial condition and prospects and/or other relevant factors, Barrick may develop such plans or
intentions in the future.
Barrick is a senior gold mining company continued 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 head office is located at Brookfield Place, Suite 4400, 181 Bay Street,
Toronto, Ontario, M5J 2T3.
Enquiries:
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]
Website: www.barrick.com
BARRICK GOLD CORPORATION PRESS RELEASE
Cautionary Statement on Forward-Looking Information
Certain information contained in this press release, including any information relating to Barrick’s investment in Reunion,
constitutes “forward-looking statements”. All statements, other than statement s of historical fact, are forward- looking
statements. The words “continue”, “may”, “plan”, “intend”, “will” and similar expressions identify forward- looking
statements. In particular, this press release contains forward-looking statements including, without limitation, with respect
to the potential for Barrick to acquire additional common shares or securities of Reunion or to dispose of some or all of
its common shares or other securities that Barrick owns, and Barrick’s right of first refusal under the investor rights
agreement with Reunion. 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. 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, and the risks that may affect Barrick’s ability to achieve the expectations set forth
in the forward-looking statements contained in this press release. All of the forward-looking statements made in this press
release are qualified by these cautionary 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.