Gold Bars 1000 grams. Concept of wealth and reserve.

CPPIB Credit Investments Inc., a wholly owned subsidiary of the Canada Pension Plan Investment Board, is selling 10 million shares in Battle North Gold Corp.

The shares of the Canadian gold mine developer, formerly known as Rubicon Minerals Corp., sold for $1.85 per share for a total aggregate sale price of $18.5 million.

Read: Caisse buying return royalty on gold at Quebec-based mine

While the sale brings CPPIB Credit’s shares in Battle North to zero, the CPPIB continues to own 9,347 shares. In total, the CPPIB’s security holding percentage in the company is down from 10.45 per cent to less than 0.01 per cent.

CPPIB Credit sold the shares for “investment reasons,” according to a press release.

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

Join us on Twitter

Add a comment

Have your say on this topic! Comments that are thought to be disrespectful or offensive may be removed by our Benefits Canada admins. Thanks!

* These fields are required.
Field required
Field required
Field required