Canadian-based exploration and mine development company with gold, silver and copper mineral exploration projects in the highly prolific 'Mining Triangle' of northeastern Nicaragua.
B2Gold Corp. (TSX.BTO. NYSE AMERICAN: BTG. NSX: B2G) (“B2Gold”) and Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) (jointly the “Partners”) are pleased to announce that on July 2, 2019, the Partners entered into a binding agreement (the “Agreement”) for B2Gold to restructure its interests in, and for Calibre to acquire, the producing El Limon and La Libertad Gold Mines (the “Nicaragua Mines”), the Pavon Gold Project and additional mineral concessions in Nicaragua (collectively, the “Nicaragua Assets”) held by B2Gold for aggregate consideration of US$100 million (the “Purchase Price”), which Purchase Price will be paid with a combination of cash, common shares and a convertible debenture (the “Transaction”). Following the completion of the Transaction, B2Gold will own an approximate 31% direct equity interest in Calibre. B2Gold’s ongoing commitment to continuing involvement with the Nicaraguan operations will be secured by its significant equity interest in Calibre, its right to appoint one director to the Board of Calibre and its participation in an Advisory Board to the main Board of Calibre
The El Limon and La Libertad Mines have produced in excess of 1.4 million ounces of gold since 2010. Their combined 2019 gold production is projected to be between 150,000 and 160,000 ounces (see: B2Gold MD&A for period ended March 31, 2019 filed on B2Gold’s profile on SEDAR)
New Transaction with B2Gold to acquire gold production and continue exploration and on going drilling in 2019
New Gold Producer with significant exploration opportunities
B2Gold 31% shareholder
Annual Production Gold, oz per year
Annual Proven & Probable Reserves Gold, Moz per year
Mineral Authority: NI 43-101 , GEOs: Yes
All data is attributable unless otherwise stated in footnotes. Mineral resources are exclusive of reserves unless otherwise stated in footnotes.