B2Gold Corp.

B2Gold Corp.

June 29, 2009 08:13 ET

B2Gold Announces C$25 Million Bought Deal Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 29, 2009) -


B2Gold Corp. (TSX:BTO) ("B2Gold" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Genuity Capital Markets and Macquarie Capital Markets Canada Ltd., and including Blackmont Capital Inc. and Haywood Securities Inc., pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 33,340,000 common shares of B2Gold at a price of C$0.75 per share, for aggregate gross proceeds to B2Gold of C$25,005,000. In addition, B2Gold has agreed to grant to the underwriters an option to purchase up to an additional 5,001,000 common shares at a price of C$0.75 per share, on the same terms and conditions as the offering, exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the offering. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the offering to B2Gold will be C$28,755,750.

The net proceeds of the offering will be used to fund the continued development of the Company's Nicaraguan assets and continued exploration expenditures in Colombia and Russia, and for working capital and general corporate purposes.

Pursuant to a pre-emptive right granted by the Company to AngloGold Ashanti Limited ("AngloGold"), AngloGold has the right to subscribe for Common Shares under an offering by the Company in order that AngloGold will continue to hold at least the same percentage of shares of the Company as AngloGold held on the day prior to the announcement of such offering. In the event that AngloGold exercises such pre-emptive right, the size of the offering will be increased by the number of Common Shares that AngloGold elects to purchase.

The common shares to be issued under this offering will be offered by way of a short form prospectus to be filed in all of the provinces of Canada, except Quebec, and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.

The offering is scheduled to close on or about July 22, 2009 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange.

For more information on B2Gold please visit the Company's 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