2176423 Ontario Ltd.

March 18, 2015 13:40 ET

2176423 Ontario Ltd. Announces Filing of Early Warning Report Related to Acquisition of Common Shares of Barkerville Gold Mines Ltd.

TORONTO, ONTARIO--(Marketwired - March 18, 2015) - 2176423 Ontario Ltd., a company controlled by Eric Sprott ("2176423") has filed an early warning report (the "Report") announcing that, on March 11, 2015, it acquired ownership and control over 3,015,039 common shares (the "Acquired Shares") of Barkerville Gold Mines Ltd. (TSX VENTURE:BGM) (the "Corporation"), which, together with 2176423's existing holdings of 3,500,000 common shares and 9,000,000 common share purchase warrants and assuming exercise of the warrants, represents approximately 11.44% of the issued and outstanding common shares of the Corporation. The Acquired Shares issued to 2176423 by the Corporation at a deemed price per share of $0.31 in satisfaction of interest due and owing under an existing credit agreement with 2176423.

The Acquired Shares were acquired for investment purposes. 2176423 has a long-term view of the investment and does not intend at this time to acquire additional common shares, but may acquire additional common shares either on the open market or through private acquisitions or sell the common shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

For further details relating to the acquisition, please see the Report, a copy of which is available on SEDAR or may also be obtained by contacting Helen Tweedie at 416.863.1221.

Contact Information

  • Helen Tweedie
    416.863.1221