Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) is pleased to announce that it intends to sell on a non-brokered, private placement basis 20,000,000 units of the Company at a price of $0.25 per unit to B2Gold Corp. (TSX: BTO, OTCQX: BGLPF) (“B2Gold”) for gross proceeds of $5,000,000 which represents a 10.6% equity stake in Calibre on an issued and outstanding basis.
The non-brokered private placement financing will consist of Company issuing 20,000,000 units at a price of $0.25/unit. Each unit will consist of one common share and one-half a common share purchase warrant. Each whole warrant will entitle B2Gold to acquire an additional common share for $0.50 for a period of 12 months from the closing date.
Clive Johnson, President and CEO of B2Gold stated: “We have enjoyed an excellent joint venture partnership with Calibre on our Borosi gold/copper project in Nicaragua and we are happy to now also be a significant shareholder of the Company. We look forward to advancing our Primavera porphyry gold/copper project with Calibre as well as our additional porphyry and vein targets on the Borosi project.”
Douglas Forster, Chairman of Calibre stated: “We are delighted to welcome B2Gold as a 10.6% shareholder of Calibre. The Primavera porphyry gold/copper project was a joint discovery by Calibre and B2Gold so it seems appropriate that our joint venture relationship should be expanded by this significant investment in Calibre.”
The securities issued in the private placement will be subject to a hold period of four months following the distribution date, under applicable Canadian securities legislation. There is no finder’s fee payable in conjunction with this financing.
The proceeds of this offering will be used to advance the exploration and development of the Company’s Borosi Project in Nicaragua and for general working capital purposes.
The private placement is subject to approval of the TSX Venture Exchange.
About Calibre Mining Corp.
Calibre Mining Corp. is a TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold and silver deposits in Central America. The Company is focused on advancing its 100% owned Riscos de Oro gold-silver project and our Cerro Aeropuerto and La Luna gold deposits, as well as the drilling program at the Primavera gold-copper project in conjunction with B2 Gold Corp. and the drilling program on the Rosita copper-gold-silver project in conjunction with Alder Resources Ltd.
Calibre Mining Corp.
Douglas Forster, M.Sc., P.Geo.
For further information contact:
Mark Carruthers – Vancouver, Canada
604 681 9944
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.