B2Gold Corp.
TSX : BTO

B2Gold Corp.

July 22, 2009 09:07 ET

B2Gold Corp. Completes $25 Million Common Share Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 22, 2009) - B2Gold Corp. (TSX:BTO) ("B2Gold" or the "Company") is pleased to announce that it has completed its previously announced bought deal financing and has issued 33,340,000 common shares at C$0.75 per share, for gross proceeds of C$25,005,000. The offering was conducted by a syndicate of underwriters, co-led by Genuity Capital Markets and Macquarie Capital Markets Canada Ltd., and including Blackmont Capital Inc. and Haywood Securities Inc. (collectively, the "Underwriters").

The Company has granted the Underwriters an over-allotment option to purchase up to 5,001,000 common shares at the price of C$0.75 per share. The option is exercisable, in whole or in part, within the next 30 days to cover over-allotments if any, and for market stabilization purposes. If the option is exercised in full, gross proceeds of the offering will be C$28,755,750.

As part of the offering, AngloGold Ashanti Limited exercised its pre-emptive right granted by the Company to maintain its percentage of holdings of approximately 10% of the common shares of the Company by acquiring 3,419,599 common shares of the Company.

The common shares were offered in each of the provinces of Canada, other than Quebec, by way of a short-form prospectus.

The Company plans to use the net proceeds of the offering for development and exploration of its Nicaraguan projects, for exploration expenditures in Colombia and Russia, to fund certain reclamation costs at its properties and for working capital and general corporate purposes.

ON BEHALF OF B2GOLD CORP.

Clive T. Johnson, President and Chief Executive Officer

For more information on B2Gold please visit the Company web site at www.b2gold.com.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.

Contact Information

  • B2Gold Corp.
    Ian MacLean
    Vice President, Investor Relations
    604-681-8371
    or
    B2Gold Corp.
    Kerry Suffolk
    Manager, Investor Relations
    604-681-8371
    www.b2gold.com