B2Gold Reduces Share Ownership in Calibre Mining
Calibre Mining announced that B2Gold has sold 79 million of its shares in Calibre to new long-term shareholders in an arm's length transaction priced at C$1.76 per share. Despite the sale, B2Gold retains 31,950,333 shares, representing 4% of Calibre's outstanding shares. Chairman Blayne Johnson expressed gratitude towards B2Gold for their role in Calibre's formation and continued partnership. Due to the reduced ownership, Randall Chatwin, B2Gold's representative on Calibre's Board of Directors, has resigned.
- B2Gold retains a 4% stake in Calibre, showing continued confidence.
- The transaction introduces new long-term shareholders at a stable price of C$1.76 per share.
- Calibre acknowledges and appreciates the foundational role of B2Gold's assets in its growth.
- B2Gold's shareholding in Calibre reduced significantly, indicating potential shifts in ownership influence.
- The resignation of Randall Chatwin from Calibre's Board may impact governance continuity.
VANCOUVER, British Columbia, June 21, 2024 (GLOBE NEWSWIRE) -- Calibre Mining (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) announces that B2Gold Corp. (“B2Gold”) has transacted on 79.0 million shares of its Calibre share position to new long-term shareholders at a price of C
Blayne Johnson, Chairman of Calibre stated: “On behalf of the entire team at Calibre, I would like to extend our sincere gratitude to Clive Johnson, President and CEO of B2Gold, and his team for entrusting us with their Nicaraguan assets which became the founding assets of Calibre. Their decision to transfer these assets to an emerging exploration company rather than opting for immediate complete monetization, required both vision and courage. This innovative approach has evolved into a highly beneficial partnership, enhancing value for the shareholders of both our companies. Although B2Gold’s shareholding will be reduced through this transaction, we are pleased that they will continue to be a significant shareholder as we strive to further build shareholder value.
As a result of the reduced ownership, Randall Chatwin, B2Gold’s representative on the Calibre Board of Directors has resigned.”
About Calibre
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value.
ON BEHALF OF THE BOARD
“Darren Hall”
Darren Hall, President & Chief Executive Officer
For further information, please contact:
Ryan King
SVP Corporate Development & IR
T: 604.628.1012
E: calibre@calibremining.com
W: www.calibremining.com
Calibre’s head office is located at Suite 1560, 200 Burrard St., Vancouver, British Columbia, V6C 3L6.
X / Facebook / LinkedIn / YouTube
The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.
FAQ
What was the transaction price for B2Gold's shares in Calibre?
How many shares did B2Gold sell in Calibre?
What is B2Gold's current shareholding in Calibre after the transaction?
Why did Randall Chatwin resign from Calibre's Board?
Who are the new shareholders of Calibre after B2Gold's transaction?
