Barrick Invests C$20.8 Million in Kingfisher Metals to Advance Copper-Gold Exploration Project
Barrick Acquires 9.9% Stake in Kingfisher Metals to Support Highway 37 Copper-Gold Project in Canada
Global mining company Barrick Mining Corporation has invested C$20.8 million in Canadian copper and gold explorer Kingfisher Metals Corporation through a private placement, strengthening its exposure to the company’s Highway 37 project in British Columbia.
Barrick subscribed for 15.4 million units priced at C$1.35 each, with each unit consisting of one common share and half of a share purchase warrant.
Each full warrant allows Barrick to acquire an additional Kingfisher share at C$1.70 within the next two years.
Following completion of the investment, Barrick will hold approximately 9.9% of Kingfisher’s issued shares on a non-diluted basis and up to 14.1% if all warrants are exercised.
The two companies have also entered into an investor rights agreement, giving Barrick certain protections, including anti-dilution and information rights related to Kingfisher’s Highway 37 project.
Under the agreement, Kingfisher will require Barrick’s approval before transferring any interest in the project.
Barrick has also agreed to voting restrictions, a two-year standstill preventing it from acquiring more than 15% of Kingfisher, and an 18-month lock-up period on the shares acquired through the placement.
The partnership will also establish a technical committee, with Barrick providing technical support and expertise for Kingfisher’s planned exploration activities during the 2027 and 2028 drilling seasons.
Barrick retains the option to increase or reduce its investment in Kingfisher in the future depending on market conditions and other factors.
The Highway 37 project, located in British Columbia’s Golden Triangle region, is a large-scale copper-gold exploration asset covering nearly 900 square kilometres.
The project hosts several high-potential porphyry copper-gold targets and is considered a significant exploration opportunity in one of Canada’s most prospective mineral regions.
The investment provides Kingfisher with additional financial and technical support as it advances exploration at Highway 37, while giving Barrick increased exposure to future copper and gold growth opportunities.
