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Barrick Gold To Sell Portfolio Of Royalties To Maverix Metals For Up To US$60 Mln

Barrick Gold Corp. (GOLD, ABX.TO) said that it agreed to sell a portfolio of royalties to Maverix Metals Inc. for total consideration of up to US$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.

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