Barrick Gold Corporation has Acquired 2,200,000 Common Shares of Java Gold
TORONTO--(BUSINESS WIRE)--Jan. 7, 1998--(CANADIAN DEALING NETWORK:JVAG.) Java Gold Corporation (''Java Gold'') announced today that Barrick Gold Corporation (NYSE:ABX - news; ''Barrick'') has acquired 2,200,000 common shares of Java Gold for an aggregate purchase price of Canadian $1,100,000 or $0.50 per share by private placement. Java Gold and Barrick have agreed that 80 percent of the placement of $1,100,000 will be used by Java Gold for exploration of properties in Mongolia.
In addition, Barrick has acquired certain rights of first refusal and option rights with respect to properties of Java Gold in Mongolia.
Armand Beaudoin President & CEO
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Contact:
Java Gold Corporation
Investor Relations, 416/ 947-9216
or
1-800-396-5188 |
