Fort Capital Partners is pleased to announce its role as financial advisor to Bullfrog Gold.
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Bullfrog Gold Corp. (CSE: BFGC, OTCQB:BFGC) (“Bullfrog” or the “Company”) has announced that it has entered into a strategic alliance with Barrick Gold Corporation (“Barrick“) and Augusta Investments Inc. (“Augusta“), a mining focused management group led by Richard Warke.
Following completion of the transaction, Barrick and Augusta will become new cornerstone shareholders, with 15.9% and 31.9% undiluted interests in the Company, respectively.
Augusta will purchase 110 million units, each consisting of one common share and one warrant (“Units“), at a price of C$0.20 per Unit for proceeds of C$22 million.
Bullfrog will acquire land adjacent to the Bullfrog project from Barrick (the “Barrick Lands”) in return for the issuance of an expected 54.6 million Units at a deemed price of C$0.20 per Unit. Bullfrog will also grant an NSR royalty on all minerals produced from Barrick Lands to Barrick.
Augusta will assume management of Bullfrog, including the appointment of Maryse Bélanger as President, CEO and Director of the Company, and the appointment of Donald Taylor and Daniel Earle to the Company’s Board of Directors. Barrick will have the right to appoint a director to the Board.
Fort Capital acted as Financial Advisor to Bullfrog on the transaction.