B2Gold Reduces Share Ownership in Calibre Mining

VANCOUVER, British Columbia, June 21, 2024 (GLOBE NEWSWIRE) -- Calibre Mining (TSX: CXB; OTCQX: CXBMF) ("Calibre” or the "Company”) announces that B2Gold Corp. ("B2Gold”) has transacted on 79.0 million shares of its Calibre share position to new long-term shareholders at a price of C$1.76, in an arm’s length transaction. Following the transaction, B2Gold will remain a shareholder with 31,950,333 shares, or 4% of Calibre’s issued and outstanding shares.

Blayne Johnson, Chairman of Calibre stated: "On behalf of the entire team at Calibre, I would like to extend our sincere gratitude to Clive Johnson, President and CEO of B2Gold, and his team for entrusting us with their Nicaraguan assets which became the founding assets of Calibre. Their decision to transfer these assets to an emerging exploration company rather than opting for immediate complete monetization, required both vision and courage. This innovative approach has evolved into a highly beneficial partnership, enhancing value for the shareholders of both our companies. Although B2Gold’s shareholding will be reduced through this transaction, we are pleased that they will continue to be a significant shareholder as we strive to further build shareholder value.

As a result of the reduced ownership, Randall Chatwin, B2Gold’s representative on the Calibre Board of Directors has resigned.”

About Calibre

Calibre is a Canadian-listed, Americas focused, growing mid-tier Gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value.

ON BEHALF OF THE BOARD

"Darren Hall”

Darren Hall, President & Chief Executive Officer

For further information, please contact:

Ryan King
SVP Corporate Development & IR
T: 604.628.1012
E: calibre@calibremining.com
W: www.calibremining.com 

Calibre’s head office is located at Suite 1560, 200 Burrard St., Vancouver, British Columbia, V6C 3L6.

X / Facebook / LinkedIn / YouTube

The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.