Barrick Announces Jersey Court Approval of Merger with Randgold and Upcoming Ticker Symbol Change
TORONTO, Dec. 17, 2018 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick”) today announced that the Royal Court of Jersey has sanctioned the scheme of arrangement by which the recommended share-for-share merger of Barrick and Randgold is being implemented.
All conditions of the scheme have now been satisfied or waived, and the merger is expected to close on January 1, 2019, following the delivery of a copy of the court order to the Jersey Registrar.
Mark Bristow, incoming President and CEO of Barrick, said the court’s approval was the last major landmark on the journey towards the creation of a new breed of gold company.
“Barrick will be the world’s biggest gold miner, but our focus will be on making it the industry’s most valued company. By finding, developing, and operating the best assets, with the best people, we’ll deliver sustainable returns to our owners and partners,” he said.
Barrick intends to change its ticker symbol on the New York Stock Exchange from “ABX” to “GOLD” beginning on the merged company’s first day of trading on January 2, 2019. GOLD is currently the ticker symbol for Randgold American Depositary Shares traded on the NASDAQ exchange. Barrick will continue to trade on the Toronto Stock Exchange under the ticker symbol “ABX” following the completion of the merger.
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CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information in this press release constitutes “forward-looking information” within the meaning of applicable Canadian securities legislation relating to, among other things, the delivery of the court order to the Jersey registrar of companies, making Barrick the industry’s most valued company, the finding, developing and operating of the best assets with the best people, the delivery of sustainable returns to Barrick’s owners and partners and the intention for Barrick shares to trade on the NYSE under the ticker symbol “GOLD”. Often, but not always, forward-looking information can be identified by the use of words such as “will”, “expect”, “target”, “intends” or similar expressions. These statements are based on the reasonable assumptions, estimates, analyses, and opinions of management made in light of management’s experience and perception of trends, current conditions, and expected developments, as well as other factors that management considers to be relevant and reasonable at the date that such statements are made. Forward-looking information involves known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of Barrick to be materially different from those anticipated, estimated, or intended, including: the risk that litigation relating to the merger may be commenced which may prevent, delay or give rise to significant costs or liabilities on the part of Barrick or Randgold; the risk that the anticipated benefits and value creation from the merger will not be realized, or may not be realized in the expected timeframes; the risk that Randgold may not be integrated successfully following the merger; risks relating to certain of the jurisdictions in which Barrick or Randgold operates, in respect of which there have been recent changes and/or proposed changes in mining laws and/or tax laws and where governments may seek a greater share of mineral wealth; and the risks and assumptions described under the headings “Forward-Looking Information” and “Risk Factors” in Barrick’s circular dated October 4, 2018, relating to the merger and Barrick’s continuous disclosure materials filed from time to time under its issuer profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are cautioned not to place undue reliance on forward-looking information.
Barrick disclaims any obligation or intention to update any forward-looking information, whether as a result of new information, future events, or results or otherwise unless so required by applicable securities laws.