B2Gold and Sandbox Royalties Partner to Create Versamet Royalties; B2Gold Receives $90 Million Equity Interest in Versamet

6 June 2024

VANCOUVER, British Columbia, June 06, 2024 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Company”) is pleased to announce that it has entered into a purchase and sale agreement (the “Agreement”) to sell a portfolio of 10 precious and base metals royalties (the “Royalties”) to Sandbox Royalties Corp. (“Sandbox”), a private, returns-focused metals royalty company (the “Transaction”). In connection with the Transaction, Sandbox has been renamed Versamet Royalties Corporation (“Versamet”). All dollar figures are in United States dollars unless otherwise indicated.

Under the terms of the Agreement, Versamet will acquire ownership of the Royalties and as consideration will issue 153.2 million common shares to B2Gold at a price of C$0.80 per share, representing an equity ownership interest in Versamet of 33.0% valued at approximately $90 million. The Royalties are comprised of the following:

• 2.7% net smelter return (“NSR”) royalty on the Kiaka Gold Project, owned by West African Resources Ltd.;
• 2.7% NSR royalty on the Toega Gold Deposit, owned by West African Resources Ltd.;
• 2.0% net profit royalty on the Quebradona Project, owned by AngloGold Ashanti Ltd.;
• 2.0% NSR royalty on the Mocoa Project, owned by Libero Copper & Gold Corp.;
• 1.5% NSR royalty on the Primavera Project, owned by Calibre Mining Corp.; and
• Five additional exploration stage royalties.

B2Gold has retained ownership of the 22.5% silver royalty on Glencore’s Hackett River project (the “B2Gold Hackett River Royalty”). Separately, Versamet owns a 2.0% NSR royalty on Glencore’s Hackett River project. B2Gold will continue to explore value maximizing alternatives for the B2Gold Hackett River Royalty.

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