B2Gold makes investment in Snowline Gold
Toronto-listed B2Gold is making a strategic investment into explorer Snowline Gold – a company hunting for gold deposits in the Yukon’s Selwyn basin.
B2Gold will purchase common shares of Snowline on the back end of an initial nonbrokered flow-through private placement arranged by Snowline. Pursuant to the initial nonbrokered placement, up to 3 941 048 flow-through common shares will be issued at C$4.862 each for gross proceeds of C$19.16-million.
Snowline CEO Scott Berdahl said he was excited to welcome B2Gold as an investor. “Their interest in Snowline is a sound endorsement of the company we are building along with the quality and geological potential of our assets.”
B2Gold president and CEO Clive Johnson said Snowline’s land portfolio boasted district-scale, untapped greenfield potential. “We believe their Valley Discovery to be one of the more significant discoveries in Canada in recent history. We have great respect for what Snowline has achieved and look forward to following the progress of their exceptional team moving forward.”
B2Gold last month made a C$1.1-billion play for Sabina Gold & Silver, handing the company its first assets in Canada.
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