TORONTO — Barrick Gold Corp. announced Dec. 1 that it has acquired 48,000,000 common shares of Reunion Gold Corp. in a nonbrokered private placement at a price of $0.19 per share for total consideration of $9.12 million.

As a result of the transaction, Barrick owns 48,000,000 common shares, representing approximately 15 percent of Reunion’s issued and outstanding common shares, on a nondiluted basis (after giving effect to the transaction).

Barrick acquired the common shares for investment purposes. Depending on market conditions and other factors, including Reunion’s business and financial condition, Barrick may, subject to the investor rights agreement entered into in connection with the transaction, acquire additional common shares or other securities of Reunion or dispose of some or all of the common shares or other securities of Reunion that it owns at such time.