B2Gold Acquires Securities of Calibre Mining Corp.
B2Gold Corp. (TSX:BTO)(OTCQX:BGLPF)(PINKSHEETS:BGLPF) announces that on May 2, 2012, it acquired ownership of 20,000,000 units (the "Units") of Calibre Mining Corp. ("Calibre") at a price of $0.25 per Unit pursuant to a subscription agreement between the parties. Each Unit is comprised of one common share of Calibre and one-half of one share purchase warrant. Each whole warrant entitles the holder thereof to acquire one common share of Calibre at a price of $0.50 per share for a period of 12 months from the date of issuance. The Units were acquired by B2Gold pursuant to the "minimum investment amount" exemption contained in National Instrument 45-106 Prospectus and Registration Exemptions.
Upon completion of the acquisition, B2Gold owns 20,000,000 common shares, representing approximately 10.6% of the issued and outstanding common shares of Calibre. Assuming full exercise of B2Gold's 10,000,000 warrants, B2Gold would own 30,000,000 common shares, representing approximately 15.2% of the issued and outstanding common shares of Calibre.
B2Gold acquired the securities for investment purposes and has no present intention of acquiring other securities of Calibre or of disposing of any of the securities of Calibre which it holds, other than potential acquisition of common shares pursuant to the exercise of the 10,000,000 warrants held by B2Gold. Depending upon B2Gold's evaluation of Calibre's business, prospects and financial condition, the market for Calibre's securities, general economic conditions and other considerations, B2Gold may acquire other additional securities of Calibre or sell some or all of the securities it holds.
Posted May 3, 2012