
Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) announced that it has entered into a definitive agreement to sell a portfolio of royalties to Maverix Metals Inc. for total consideration of up to $60 million.
The Portfolio consists of 22 royalties on the production of minerals from mines located in North America, South America, Australia and Africa. The total consideration of $60 million consists of $50 million in cash payable on closing of the Portfolio sale, subject to the exercise of any right of first refusal or buy-down right by the counterparties under certain royalties, and three contingent payments:
The transaction is targeted to close at the end of the third quarter of this year following the satisfaction of customary closing conditions.
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