B2Gold Corp. and CGA Mining Limited Complete Merger
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/31/13 -- B2Gold
Corp. (TSX:BTO)(OTCQX:BGLPF)(NAMIBIAN:B2G) ("B2Gold" or the
"Company") is pleased to announce the successful completion of the
scheme of arrangement ("Merger") by which B2Gold has acquired all of
the issued ordinary shares of CGA Mining Limited ("CGA"). As of
today, and including the 251,973,927 shares issued as consideration
under the Merger for the former share and option holders of CGA,
B2Gold has 645,383,200 shares issued and outstanding.
Confirmations of holdings will shortly be sent to the former holders
of CGA shares and options receiving the Merger consideration in the
form of shares.
CGA shares ceased trading and were delisted from the Toronto Stock
Exchange on January 18, 2013. Trading on the Australian Stock
Exchange ("ASX") was suspended on January 16, 2013, and the shares
are expected to be delisted from the ASX on February 4, 2013.
Michael Carrick, formerly a director, President and Chief Executive
Officer of CGA, was appointed to the board of directors of B2Gold
effective upon the implementation of the Merger, with the existing
seven directors of B2Gold continuing as directors.
B2Gold Corp. is a Vancouver based gold producer with three operating
mines (two in Nicaragua and one in the Philippines) and a strong
portfolio of development and exploration assets in Nicaragua,
Colombia, Namibia and Uruguay.
B2Gold is projecting gold production in 2013 of approximately 385,000
ounces and approximately 400,000 ounces in 2014 from La Libertad,
Limon and Masbate Mines. With the first full year of gold production
from the Otjikoto project in Namibia scheduled for 2015, and
increased production projected from La Libertad Mine, the Company is
projecting 2015 gold production of 550,000 ounces, based on current
assumptions. Finally, with the successful completion of the Gramalote
project(1) (B2Gold 49% / AngloGold Ashanti Limited 51%) in Colombia,
gold production could increase to approximately 750,000 ounces in
B2Gold's corporate objective is to optimize production at existing
mines and build further shareholder value through the exploration and
development of existing projects and additional accretive
acquisitions. B2Gold trades on the Toronto Stock Exchange under the
symbol "BTO", on the Namibian Stock Exchange under the symbol "B2G"
and on the OTCQX under the symbol "BGLPF".
(1) Subject to feasibility study, permitting and financing
ON BEHALF OF B2GOLD CORP.
Clive T. Johnson, President and Chief Executive Officer
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
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.
Vice President, Investor Relations
Manager, Investor Relations
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