- B2Gold (BTO) has taken a 5-per-cent position in Snowline (SGD) with a right to maintain pro rata ownership
- Snowline will use the funds to advance the exploration of its Yukon-based mineral properties
- B2Gold President and CEO Clive Johnson views Snowline’s Valley Discovery as one of the most significant in recent Canadian history
- Snowline Gold is a Yukon Territory-focused gold exploration company with a 17-project portfolio covering over 280,000 ha
- Snowline Gold (SGD) is up by 10.25 per cent, trading at $2.69 per share
B2Gold (BTO) has taken a 5-per-cent position in Snowline (SGD) with a right to maintain pro rata ownership.
B2Gold made its most recent SGD purchase on the back end of Snowline’s C$19,161,375 non-brokered flow-through financing.
The financing will issue up to 3,941,048 flow-through shares priced at $4.862.
Snowline will use the funds to advance the exploration of its Yukon-based mineral properties. The work will qualify as Canadian exploration expenses and flow-through mining expenditures as defined in the Income Tax Act (Canada).
The offering is scheduled to close on or about March 28, 2023. All securities issued will be subject to a regulated hold period of four months and one day.
The purchase follows B2Gold’s acquisition of 3,000,000 SGD shares on the open market.
“We are excited to welcome B2Gold as a growth-focused, long-term, value-driven investor,” stated Scott Berdahl, Snowline’s CEO. “B2Gold is a major global gold producer with a strong track record of growth built on a demonstrated commitment to communities, sustainable mining and employee safety. Their interest in Snowline is a sound endorsement of the company we are building along with the quality and geological potential of our assets.”
“We’d like to commend the Snowline exploration and management teams for their strong exploration work conducted thus far across their large mineral tenure in the Selwyn Basin. Their highly prospective land portfolio boasts district-scale, untapped greenfield potential, and we believe their Valley Discovery to be one of the more significant discoveries in Canada in recent history,” added Clive Johnson, B2Gold’s President and CEO.
Snowline Gold is a Yukon Territory-focused gold exploration company with a 17-project portfolio covering over 280,000 ha.
Snowline Gold (SGD) is up by 10.25 per cent, trading at $2.69 per share as of 11:59 am EST.
