Snowline Gold announces strategic investment by B2Gold

- Snowline Gold announced on Tuesday that gold producer B2Gold has agreed to complete a strategic investment into the company.

"Pursuant to the initial non-brokered private placement, up to 3,941,048 flow-through common shares of the company 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 company said. "The common shares to be purchased by B2Gold on the back end of the private placement, combined with 3,000,000 common shares of the company recently acquired by B2Gold on the open market, will represent a total position of approximately 5.0% of the issued and outstanding common shares of the company upon completion of the offering," the company said.

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