Calibre Closes $5,000,000 Strategic Financing With B2Gold Acquiring a 10% Stake in Calibre
03.05.2012 | Marketwire
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRESVANCOUVER, BRITISH COLUMBIA -- (Marketwire - May 3, 2012) - Calibre Mining Corp. (TSX VENTURE: CXB) (the "Company" or "Calibre") is pleased to announce that the Company has closed its non-brokered private placement previously announced on April 19, 2012 with B2Gold Corp. (TSX:BTO) (OTCQX:BGLPF) ("B2Gold") for proceeds of $5,000,000 (the "Private Placement"). As a result of the Private Placement, B2Gold now holds a 10.6% equity stake in Calibre on an undiluted basis.
The Private Placement consisted of the Company issuing 20,000,000 units at a price of $0.25 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles B2Gold to acquire an additional common share at an exercise price of $0.50 until May 2, 2013. The securities issued are subject to a statutory hold period expiring September 3, 2012. No finder's fee was paid in connection with the Private Placement.
The proceeds of the Private Placement will be used to advance the exploration and development of the Company's Borosi Project in Nicaragua and for general working capital purposes.
About Calibre Mining Corp.
Calibre Mining Corp. is a TSX Venture Exchange listed company (TSX VENTURE:CXB) that is focused on the acquisition, exploration and development of gold and silver deposits in Central America. The Company is focused on its 100% owned Riscos de Oro gold-silver project, the drilling program at the Primavera gold-copper project in conjunction with B2Gold Corp. and the drilling program on the Rosita copper-gold-silver project in conjunction with Alder Resources Ltd. Major shareholders of Calibre include gold producer B2Gold and investment fund Sun Valley Gold.
Calibre Mining Corp.
Douglas Forster, M.Sc., P.Geo., Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
Calibre Mining Corp.
Mark Carruthers - Vancouver, Canada
604 681 9944
www.calibremining.com