On August 29, 2022, Hemlo Explorers Inc. executed a definitive agreement with a wholly-owned subsidiary of Barrick Gold Corporation whereby Barrick has the right to earn into an 80% interest in the Pic Project.
On August 31, 2022, Hemlo closed a private placement with a wholly-owned subsidiary of Barrick Gold Corporation, pursuant to which Hemlo issued 1,841,468 common shares priced at $0.1052 per share for gross proceeds of $193,722.
Cassels acted for Hemlo.