- B2Gold Corp. (BTO) has agreed to acquire all of the issued and outstanding shares of Sabina Gold & Silver Corp.
- B2Gold will acquire Sabina’s 100 per cent-owned Back River Gold District in Nunavut
- B2Gold will issue 0.3867 of a common share of B2Gold for each Sabina common share held, for a total of approximately C$1.1 billion
- B2Gold is a Canada-based gold producer with mines in Mali, Namibia and the Philippines and numerous exploration and development projects in other countries
- Sabina Gold & Silver Corp. owns 100 per cent of the Back River Gold District in Nunavut
- B2Gold Corp. (BTO) opened trading at C$4.83
B2Gold Corp. (BTO) has agreed to acquire all of the issued and outstanding shares of Sabina Gold & Silver Corp.
B2Gold will acquire Sabina’s 100 per cent-owned Back River Gold District in Nunavut.
Under the terms of the transaction, B2Gold will issue 0.3867 of a common share of B2Gold for each Sabina common share held, representing consideration of C$1.87 per Sabina share and a total equity value for Sabina of approximately C$1.1 billion.
The transaction will be implemented by way of a court-approved plan of arrangement. Upon completion of the arrangement, existing B2Gold shareholders and former Sabina shareholders will own approximately 83 per cent and 17 per cent, respectively, of the outstanding B2Gold shares.
Clive Johnson, President and Chief Executive Officer of B2Gold, said, “The acquisition of Sabina represents an exciting opportunity to develop the significant gold resource endowment at the Back River Gold District into a large, long-life mining complex. B2Gold has strong construction expertise and experience to successfully develop the fully permitted Goose project and unlock considerable value for the shareholders of both Sabina and B2Gold. The Back River Gold District has multiple high-potential mineralized zones which remain open, and we are confident that the district has a strong untapped upside with numerous avenues for resource growth.”
B2Gold is a Canada-based gold producer. B2Gold has operating gold mines in Mali, Namibia and the Philippines and numerous exploration and development projects in countries including Mali, Colombia, Finland and Uzbekistan. B2Gold forecasts total consolidated gold production of between 1,000,000 and 1,080,000 ounces in 2023.
Sabina Gold & Silver Corp. is an emerging gold mining company that owns 100 per cent of the Back River Gold District in Nunavut, Canada.
B2Gold Corp. (BTO) opened trading at C$4.83.