- B2Gold (BTO) has completed its acquisition of all the issued and outstanding shares of Sabina Gold & Silver (SBB)
- The all-stock transaction is worth C$1.2 billion and values Sabina’s common shares at $2.20
- Vancouver-based B2Gold acquired Sabina’s 100 per cent-owned Back River Gold District in Nunavut
- B2Gold Corp. (BTO) opened trading at C$5.56
B2Gold (BTO) has completed its acquisition of all the issued and outstanding shares of Sabina Gold & Silver (SBB).
The all-stock transaction is worth C$1.2 billion and values Sabina’s common shares at $2.20.
Under the terms of the transaction, B2Gold will issue 0.3867 of a common share of B2Gold for each Sabina common share held. B2Gold will issue 216 million B2Gold shares under the arrangement.
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.
Vancouver-based B2Gold acquired Sabina’s 100 per cent-owned Back River Gold District in Nunavut.
Clive Johnson, President and Chief Executive Officer of B2Gold, said the closing of the acquisition of Sabina and the Back River Gold District represents a milestone for B2Gold, as the company continues to build a low-cost responsible senior gold mining company.
“We are excited to add such a high-quality, high grade gold project in a top mining jurisdiction to our global portfolio, and we are thrilled to welcome the exceptional Sabina team into B2Gold. We also look forward to working with the Kitikmeot Inuit Association and local communities as we advance the construction of the Goose project and our development strategy.”
B2Gold is a Canadian gold producer that 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.’s common shares will be delisted from the TSX at market close on April 21, 2023.
B2Gold Corp. (BTO) opened trading at C$5.56.
Sabina Gold & Silver (SBB) opened trading at C$2.13.