Calibre Mining Corp. acquires Nicaragua mining assets from B2Gold Corp.

Date Closed

October 15, 2019

Lead Office

Vancouver

Value

100.00 Million USD

On October 15, 2019, Vancouver-based mining corporations Calibre Mining Corp. (Calibre) and B2Gold Corp. (B2Gold) closed a binding agreement under which B2Gold restructured its interests in several of its Nicaragua mining assets—including the producing El Limon and La Libertad Gold Mines, the Pavon Gold Project, and additional mineral concessions in Nicaragua— and Calibre acquired those assets for aggregate consideration of US$100 million. The purchase price is comprised of a combination of cash, common shares and a convertible debenture.

B2Gold now owns an approximate 31% direct equity interest in Calibre.

In connection with the Transaction, Calibre entered into an agreement with Canaccord Genuity Corp. and Sprott Capital Partners LP in respect of a private placement of up to 167,000,000 subscription receipts for gross proceeds of up to C$100 million.

Calibre Mining Corp. is a major exploration and mine development company focused on the Mining Triangle of northeastern Nicaragua.

McCarthy Tétrault advised Calibre with a team co-led by Roger Taplin and Eva Bellissimo, that included Patrick Deutscher, Claire Lehan, Gerald Gaunt, James Clinton, and Bosa Kosoric.

People