By Adriano Marchese
Barrick Gold Corp. said Thursday that it is selling its entire holdings of Skeena Resources Ltd. for 132.5 million Canadian dollars, or the equivalent of US$105.5 million.
Canadian gold-mining-major Barrick said it is entering into a purchase-and-sale agreement with a unidentified Canadian investment dealer to sell its 8.8 million common shares of Skeena Resources at a price of C$15 apiece.
The shares represent around 12.9% of the company's issued and outstanding common shares.
On Wednesday, Skeena Resources' closing price was C$15.78.
Barrick said that the sale is for portfolio-management purposes.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
03-24-22 0844ET