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B2Gold completes Nicaragua asset sale;,becomes Calibre's top shareholder

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ThSeeker Member Level  Thursday, 10/17/19 10:16:00 AM
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B2Gold completes Nicaragua asset sale;,becomes Calibre's top shareholder
Oct. 16, 2019 8:01 AM ET |About: B2Gold Corp. (BTG)|By: Carl Surran, SA News Editor

B2Gold (NYSEMKT:BTG) says it completed the sale of its El Limon and La Libertad gold mines, the Pavon gold project and other mineral concessions in Nicaragua to Calibre Mining (OTCPK:CXBMF) for $100M in cash and stock.

The deal makes BTG Calibre's largest shareholder, with a ~31% stake vs. 11.9% before the close of the transaction.

The two miners entered into an investor rights agreement which provides, among other things, that as long as BTG holds at least 10% of Calibre shares, it will have pro rata participation rights and piggyback registration rights.


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