Dual-listed Osisko Gold Royalties on Monday announced that it would buy TSX-V-listed Barkerville Gold Mines in a transaction that valued the owner of the Cariboo gold project, in British Columbia, at C$338-million, while also launching a new project development platform.
Osisko is offering each shareholder of Barkerville 0.0357 of its common shares for each share held, implying a consideration of C$0.58 a Barkerville share. The offer is a premium to Barkerville’s closing price of C$0.46 a share on Friday and a 44% premium based to its 20-day volume-weighted average price.