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Prospector Metals Corp. (TSXV:PPP) (OTCQB:PMCOF) (FSE: 1ET) ("Prospector" or the "Company") is pleased to announce that B2Gold Corp. (TSX:BTO) (NYSE:BTG) (NSX: B2G) ("B2Gold") has agreed to complete an additional strategic investment into the Company. Pursuant to the transaction B2Gold has agreed to subscribe for an aggregate of 10,309,278 common shares of the Company (the "Shares") at a price of C$0.97 per Share for aggregate gross proceeds to the Company of $10 million (the "Offering").
Rob Carpenter, CEO and Director of Prospector, said, "We are excited to continue and strengthen our partnership with B2Gold and proceeds from this investment will go towards our now, fully funded 2026 drill program on our flagship ML Project, Yukon. Our 2025 drill program successfully defined several high-grade gold trends which will be fully evaluated in 2026."
Upon completion of the acquisition of the Shares, B2Gold will have aggregate beneficial ownership and control over approximately 17.2% of the issued and outstanding common shares of the Company upon completion of the Offering.
This additional investment has been made in accordance with subscriptions rights granted to B2Gold pursuant to an Investor Rights Agreement (the "Investor Rights Agreement"), which the Company entered into in connection with B2Gold's initial strategic investment in the Company, as disclosed in the Company's news release dated June 28, 2024.
