VANCOUVER, BRITISH COLUMBIA, Sep. 1, 2010 (Marketwire) -- B2Gold Corp. (TSX:BTO)(OTCQX:BGLPF) ("B2Gold" or the "Company"), is pleased to announce that the Company has commenced trading on the OTCQX under the symbol BGLPF. The OTCQX is the U.S. Over the Counter (OTC) market's highest tier where companies are distinguished from the thousands of other companies trading on the U.S. OTC market. Over 110 companies with a total market capitalization surpassing US$750 billion, including several of the world's largest companies by market capitalization, are currently trading on the OTCQX.
In addition, B2Gold is pleased to announce that the transaction announced on July 22, 2010 with regards to the sale of the Company's interest in the Kupol East and West Licenses has closed. Kinross Gold Corporation ("Kinross") has made an upfront payment of US$33 million to B2Gold and will make contingent payments of US$15 million for each incremental million ounces of gold of National Instrument 43-101 compliant proven and probable reserves contained by the Kupol East and West License areas, up to a maximum of nine million ounces of gold (100% basis).
B2Gold will also receive payments equal to 1.5% of Net Smelter Returns from the commencement of production from the area covered by the Kupol East and West Licenses, subject to a right for Kinross to repurchase the royalty for US$30 million.
B2Gold is a Vancouver based gold producer with two mines in Nicaragua and a strong portfolio of development and exploration assets in Nicaragua, Colombia and Costa Rica.
B2Gold was founded as a private company in 2007 by the former executive and management team of Bema Gold Corporation. Bema grew from a junior explorer to an international gold producer that was acquired by Kinross Gold Corporation through a Cdn$3.5 billion transaction in February 2007.
In addition to its near term production growth profile, B2Gold's corporate objective is to continue to build further shareholder value through the exploration and development of existing projects and additional accretive acquisitions, capitalizing on the extensive experience and relationships that management has developed over the past 25 years. B2Gold trades on the Toronto Stock Exchange under the symbol "BTO".
ON BEHALF OF B2GOLD CORP.
Clive T. Johnson, President and Chief Executive Officer
For more information on B2Gold please visit the Company web site at www.b2gold.com.
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.
Vice President, Investor Relations
Manager, Investor Relations