Hercules Silver announces closing of strategic investment by Barrick Gold Corporation

On November 7, 2023, Hercules Silver Corp. (TSXV: BIG) (OTCQB: BADEF) (FWB: 8Q7) announced completion of its previously announced non-brokered private placement, resulting in Barrick Gold Corporation subscribing for 21,265,370 units of Hercules Silver for gross proceeds to Hercules Silver of $23,391,907. The private placement represents a significant step towards the equity requirements to fund the Hercules Silver Project and a strategic investment by Barrick in Hercules Silver.

Hercules Silver is a junior mining company focused on the exploration and development of the 100% owned Hercules Silver Project, northwest of Cambridge, Idaho. Barrick is a senior gold mining company organized under the laws of the Province of British Columbia.

Gowling WLG advised Hercules Silver with respect to this transaction with a team that included Peter Simeon, Tara Amiri, James Stewart and Natalia Mioduszewski (corporate/securities), assisted by paralegal Toni Vodola.