On March 14, 2023, Snowline Gold Corp. announced that B2Gold Corp. will complete a strategic investment into Snowline Gold through a non-brokered private placement. Up to 3,941,048 flow-through common shares of Snowline Gold will be issued at a price of $4.862 per flow-through common share for aggregate gross proceeds to Snowline Gold of approximately $19.2 million. B2Gold will be purchasing such common shares on the back end of this charity flow-through private placement. Upon completion of this financing, B2Gold will own approximately 5.0% of the issued and outstanding common shares of Snowline Gold and will be granted certain rights to maintain this interest in the event of future equity financings and exercises of convertible securities.
It is expected that the offering will close on or about March 28, 2023.
Cassels is acting for Snowline Gold.