Barrick Gold Corp. announced today that it has agreed to subscribe for 21,265,370 units of
Hercules Silver Corp. in a non-brokered private placement at a price of $1.10 per Unit, for total consideration of $23,391,907. Each Unit is comprised of one common share and 0.32 of a common share purchase warrant, where each whole warrant will entitle the holder for a period of two years to acquire one Hercules common share at a price of $1.32 per common share. Barrick currently owns 5,291,500 common shares of Hercules, representing approximately 2.73% of Hercules' issued and outstanding common shares on a non-diluted basis. Following the Private Placement, Barrick will hold 26,556,870 common shares of Hercules and 6,804,918 warrants, representing approximately 12.33% of H...