B2Gold Corp. Announces Exercise of Over-Allotment Option
Vancouver, August 5, 2009 - B2Gold Corp. (TSX: BTO) ("B2Gold" or the "Company"), reports that the underwriters of its recent public offering (the "Offering") have exercised, in full, their over-allotment option (the "Over-Allotment Option") and will purchase an additional 5,001,000 common shares at C$0.75 per share. The Over-Allotment Option was granted pursuant to the Offering of 33,340,000 common shares, at an offering price of C$0.75 per share, which closed on July 22, 2009. The additional gross proceeds from the exercise of the Over-Allotment Option will total C$3,750,750.
The Offering was conducted by a syndicate of underwriters, co-led by Genuity Capital Markets and Macquarie Capital Markets Canada Ltd., and including Blackmont Capital Inc. and Haywood Securities Inc. The common shares were offered in each of the provinces of Canada, other than Quebec, by way of a short-form prospectus.
The Company plans to use the net proceeds of the Offering and the Over-Allotment Option for development and exploration of its Nicaraguan projects, for exploration expenditures in Colombia and Russia, to fund certain reclamation costs at its properties and for working capital and general corporate purposes.
| On Behalf of B2GOLD CORP. |
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"Clive T. Johnson"
President and Chief Executive Officer |
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For more information on B2Gold please visit the Company web site at www.b2gold.com or contact:
The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.
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.