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Snowline Gold Announces Strategic Investment by B2Gold Through Non-Brokered Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES VANC...
About this update from Snowline Gold Corp.
[{"type":"text","content":"Snowline Gold Announces Strategic Investment by B2Gold Through Non-Brokered Private PlacementNOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICESVANCOUVER, BC / ACCESSWIRE / March 14, 2023 / Snowline Gold Corp. (CSE:SGD) (the \"Company\" or \"Snowline\") is pleased to announce that B2Gold Corp. (TSX:BTO, NYSE American: BTG, NSX: B2G) (\"B2Gold\") has agreed to complete a strategic investment into the Company. B2Gold will be the purchaser of common shares of the Company on the back end of an initial non-brokered flow-through private placement arranged by Snowline. Pursuant to the initial non-brokered private placement, up to 3,941,048 flow-through common shares of the Company (the \"FT Shares\") will be issued at a price of C$4.862 per FT Share for aggregate gross proceeds to the Company of up to C$19,161,375 (the \"Offering\").\"We are excited to welcome B2Gold as a growth-focused, long-term, value-driven investor,\" said Scott Berdahl, CEO & Director of Snowline. \"B2Gold is a major global gold producer with a strong track record of growth built on a demonstrated commitment to communities, sustainable mining and employee safety. Their interest in Snowline is a sound endorsement of the company we are building along with the quality and geological potential of our assets.\"Clive Johnson, President & CEO of B2Gold added, \"We'd like to commend the Snowline Exploration and Management teams for their strong exploration work conducted thus far across their large mineral tenure in the Selwyn Basin. Their highly prospective land portfolio boasts district-scale, untapped greenfield potential, and 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.\"The gross proceeds from the issue and sale of the FT Shares will be used to support advancement of exploration on the Company's Yukon Territory mineral properties, which will qualify as \"Canadian Exploration Expenses\" and \"flow-through mining expenditures\", as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the FT Shares with an effective date no later than December 31, 2023.The common shares t...