VANCOUVER, British Columbia, Dec. 15, 2016 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX:BTO), (NYSE MKT:BTG), (NSX:B2G) (“B2Gold” or the “Company”) acquires an additional 23,450,000 common shares of Calibre Mining Corp. (“Calibre”) on December 8, 2016, pursuant to the terms of a letter agreement (the “Agreement”) dated November 2, 2016, among the Company, Minera Glencairn S.A., a wholly owned indirect subsidiary of the Company, Calibre and CXB Nicaragua S.A., a wholly owned subsidiary of Calibre, at a deemed price of CDN$0.14 per share and an aggregate deemed price of CDN$3,283,000.00.
Under the Agreement, the Company sold its interest in the mining claims and mining leases comprising the Borosi concessions located in Nicaragua (the “Property”), in return for consideration of 23,450,000 common shares of Calibre and a 1.5% net smelter returns royalty on production generated on the Property (the “Purchase Price”).
This acquisition brings the total holdings in the common shares of Calibre by the Company to 53,450,000 common shares, representing approximately 18.5% of the outstanding common shares of Calibre. Immediately before the acquisition, the Company held 30,000,000 common shares of Calibre, representing 15.2% of the issued and outstanding common shares of Calibre.
The common shares of Calibre that the Company acquired were acquired pursuant to the Agreement and are presently being held for investment purposes. In the future, the Company or its affiliates may acquire additional common shares of Calibre or dispose of such shares subject to a number of factors, including general market and economic conditions and other investment and business opportunities available.
A copy of the Early Warning Report to which this news release relates can be obtained from the SEDAR profile of Calibre at www.sedar.com.
About B2Gold Corp.
B2Gold is a Vancouver-based gold producer with four operating mines (two in Nicaragua, one in the Philippines and one in Namibia) and one mine under construction in Mali. In addition, the Company has a portfolio of development and exploration assets in Mali, Burkina Faso, Namibia, Philippines, Nicaragua and Colombia.
