Barkerville Gold Mines Ltd.

Published : April 26th, 2016

Barkerville Gold Mines Closes $15.5 Million Bought Deal Private Placement

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Keywords :   Canada | Cash | Equity Markets | Georgia | Gold | Gold Mines | Mines | Tax |

Barkerville Gold Mines Closes $15.5 Million Bought Deal Private Placement

April 26th, 2016

TORONTO, ON - April 26,2016 - Barkerville Gold Mines Ltd. (TSXV: BGM) (the 'Company') is pleased to announce that it has closed its previously announced bought deal private placement (the 'Offering'), led by Haywood Securities Inc. with a syndicate including Sprott Private Wealth L.P. (collectively, the 'Underwriters').

The Company issued an aggregate of 22,183,500 flow-through common shares (the 'Flow Through Shares') at a price of $0.70 per Flow Through Share for aggregate gross proceeds of $15,528,450.

The Company paid the Underwriters a cash commission equal to 6% of the gross proceeds of the Offering, not including gross proceeds raised from investors on the president's list and issued an aggregate of 404,200 compensation options (the 'Compensation Options') to the Underwriters. Each Compensation Option entitles the holder to acquire one common share of the Company at a price of $0.70 until April 26, 2018.

The Company intends to use the net proceeds from the Offering to incur Canadian exploration expenses that are 'flow-through mining expenditures' (as such terms are defined in the Income Tax Act (Canada)) (the 'Qualifying Expenditures') on its extensive property package encompassing the Cariboo Mining District and related properties in British Columbia. The Qualifying Expenditures will be renounced to the subscribers with an effective date no later than December 31, 2016.

The securities issued pursuant to the Offering will be subject to a statutory four month hold period.

The securities offered have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

For further information on Barkerville Gold Mines Ltd., please contact:

Tom Obradovich

President & Chief Executive Officer

(416) 361-2511

[email protected]

Cautionary Statement on Forward -Looking Information

Neither the TSX Venture Exchange ('TSXV') nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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Data and Statistics for these countries : Canada | Georgia | All
Gold and Silver Prices for these countries : Canada | Georgia | All

Barkerville Gold Mines Ltd.

PRODUCER
CODE : BGM.V
ISIN : CA0676421088
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Barkerville Gold Mines is a producing gold company based in .

Barkerville Gold Mines holds various exploration projects in Canada.

Its main assets in production are QR and BONANZA LEDGE in Canada, its main asset in development is CARIBOO in Canada and its main exploration properties are BARKERVILLE MOUNTAIN, MUCHO ORO ZONE, PROMISE and MYRTLE-PROSERPINE in Canada.

Barkerville Gold Mines is listed in Canada. Its market capitalisation is CA$ 136.0 millions as of today (US$ 102.5 millions, € 93.0 millions).

Its stock quote reached its highest recent level on April 14, 2000 at CA$ 2.80, and its lowest recent point on January 02, 2009 at CA$ 0.01.

Barkerville Gold Mines has 335 780 000 shares outstanding.

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Annual reports of Barkerville Gold Mines Ltd.
2009 Annual Report
2008 Annual report
Financings of Barkerville Gold Mines Ltd.
7/19/2011Receives $8,529,375 From Warrant Exercise-All Warrants From ...
5/18/2006First tranche of private placement closes
Project news of Barkerville Gold Mines Ltd.
8/12/2015Phase 1 drilling results extends mineralization and identifi...
8/15/2013Barkerville Gold Mines Ltd. Project Update
6/19/2013Barkerville Gold Mines Ltd. Announces Updated Resource Estim...
5/11/2013(Cariboo)Provides Technical Update on Cariboo Gold Project
4/5/2013(Cariboo)Provides Technical Update on Cariboo Gold Project
6/21/2012Barkerville Gold Mines Receives Environmental Approval at QR...
3/21/2012Barkerville Gold Mines Reports Remaining 2011 Drill Results
2/29/2012Barkerville Gold Mines Summarizes 2012 Exploration Work and ...
2/15/2012Barkerville Gold Mines Intercepts 27.4 meters (90.0 feet) of...
2/15/2012Barkerville Gold Mines Intercepts 27.4 Meters (90.0 Feet) of...
12/6/2011Barkerville Gold Mines Receives Provincial Government Approv...
5/26/2011(Barkerville Mountain)Assays Gold in First 10 Diamond Drill Holes for 2011 on The ...
5/13/2011(Myrtle-proserpine)Acquisition of Myrtle-Proserpine and Promise Properties
4/7/2011(Bonanza Ledge)Provides Update on the Permitting of the Bonanza Ledge Mine
3/22/2011(Barkerville Mountain)First Diamond Drilling Assay at New Discovery on Barkerville...
2/14/2011(Barkerville Mountain)Extends New Discovery Zone on Barkerville Mountain to 125 Me...
5/3/2006(Bonanza Ledge)Preliminary assessment report & application for mine permit ...
4/19/2006(Bonanza Ledge)drilling continues at the Cariboo gold project
Corporate news of Barkerville Gold Mines Ltd.
7/6/2016Barkerville Gold Mines Provides Corporate Update
6/29/2016Barkerville Gold Mines Intersects 30.98 G/T (0.90 Oz/T) Au O...
6/21/2016Barkerville Gold Announces Change of Year-End
6/9/2016Barkerville Gold Mines Intersects 9.97 G/T (0.29 Oz/T) Gold ...
6/3/2016Barkerville Gold Mines Acquires Nugget Mountain Claims
5/2/2016Barkerville Gold and Williams Creek Gold Enter Into Arrangem...
4/26/2016Barkerville Gold Mines Closes $15.5 Million Bought Deal Priv...
4/21/2016Barkerville Gold Mines Provides Outlook and Corporate Update...
4/8/2016Barkerville Gold Mines to Defend Lawsuit
4/4/2016Barkerville Announces $13.5 Million Bought Deal Private Plac...
1/22/2016Barkerville Gold Mines Files Amended Financial Statements an...
1/7/2016Barkerville Gold Mines Intersects 43.48 G/T (1.27 OZ/T) AU O...
12/24/2015Barkerville Gold Mines Closes $6Million Flow-Through Share O...
12/16/2015Barkerville Gold Mines Identifies New High Grade Vein Trend ...
12/2/2015Barkerville Gold Mines Announces Flow-Through Unit Offering ...
11/30/2015Barkerville Gold Mines Enters into Letter Agreement with Osi...
10/30/2015Barkerville Gold Mines Files Amended Financial Statements an...
10/20/2015BGM Announces Discovery of Two Additional High Grade Gold Ho...
10/14/2015Barkerville Gold Mines Grants Stock Options
9/15/2015BGM Discovers New High Grade Gold Horizon on Barkerville Mou...
9/2/2015Barkerville Gold Mines Enters into Settlement Agreement
7/29/2015Barkerville Gold Mines Announces Strategic Relationship with...
7/28/2015BGM Announces First Drilling Results from Phase I Program on...
7/28/2015Barkerville Gold Mines Files Amended Financial Statements an...
7/15/2015Barkerville Gold Mines Closes $19Million Debt Settlement and...
7/8/2015Barkerville Gold Mines Announces Settlement of Debt and Crea...
4/9/2015Barkerville Gold Mines Announces Results of AGM
3/31/2015Barkerville Gold Mines Updates Cow Mountain Mineral Resource
3/23/2015Barkerville Announces Debt Settlement with Lender
3/17/2015Barkerville Gold Mines Provides Corporate Update
3/10/2015Barkerville Announces Executive Appointment
1/13/2015Executive Officer Appointments
12/16/2014Barkerville Announces Director Appointments
12/2/2014Barkerville Announces Further Extension to Credit Facility
11/4/2014Barkerville Gold Mines Reports Whole Hole Fire Assay Results...
10/28/2014Island Mountain Project Update
10/21/2014Barkerville Gold Mines Reports That a New Gold Mineralized Z...
3/13/2014Barkerville Closes Initial Tranche Of Private Placement
2/24/2014Barkerville Gold Mines Reports Whole Hole Metallic Screen Fi...
12/16/2013Barkerville Gold Mines Reports Metallic Screen Fire Assay Re...
11/4/2013Barkerville Gold Mines Reports Significant Intercepts of 201...
10/24/2013Barkerville Gold Mines Ltd. Pricing on Warrants and Grant of...
10/9/2013Closes $15 Million Gold Loan Facility and Common Shares Are ...
8/21/2013Barkerville Gold Mines Ltd. Clarifies And Updates Its Most R...
8/12/2013Barkerville Gold Mines Ltd. Arranges Short Term Loan
4/18/2013Announces Results of AGM
2/19/2013Approves Advanced Notice Policy
1/30/2013Resolves Shareholder Petition Respecting AGM and Pours Gold ...
1/15/2013Provides Project and Technical Update
12/10/2012Extension to Hold AGM and Petition by Rex Harbour to Call AG...
11/5/2012Provides Additional Update on its Technical Review and Proje...
10/20/2012Provides Update on its Technical Review
8/7/2012Be Advised - Barkerville Gold Mines - the next Goldcorp?????...
12/13/2011Barkerville Gold Mines Intercepts 62.3 meters (204.5 feet) o...
6/27/2011Intersects 19.9 Meters (65.4 Feet) of 83 g/t (2.429 oz/t) Go...
6/15/2011(Bonanza Ledge)Appoints Ross Hollinger as Mine Manager For Bonanza Ledge an...
6/2/2011(Myrtle-proserpine)Closes Acquisition of Myrtle-Proserpine and Promise Properti...
5/27/2011Barkerville Gold Mines
2/1/2011Releases Q3 Financials
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