B2Gold agrees to acquire mineral exploration firm Oklo Resources

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Canadian gold producer B2Gold (NYSE:BTG) has agreed to acquire Australian mineral exploration company, Oklo Resources.

The companies entered into a definitive scheme implementation agreement, pursuant to which B2Gold will acquire 100% of the fully paid ordinary shares of Oklo in consideration for 0.0206 of a common share of B2Gold and A$0.0525 in cash for each Oklo share held.

The scheme consideration represents a purchase price of ~A$0.1725 for each Oklo share and values the transaction at ~A$91.3M (including up to ~A$27.4Mcash consideration).

Upon implementation of the scheme, B2Gold (BTG) expects to issue up to 10,754,284 B2Gold shares to Oklo shareholders, in addition to the cash consideration.

The acquisition provides B2Gold with an additional landholding of 1,405 sq km, covering highly prospective greenstone belts in Mali, West Africa, including Oklo's flagship Dandoko Project.

The transaction, including without limitation, the scheme, is subject to approval by the Supreme Court of Western Australia, the Oklo shareholders at the Scheme Meeting, together with other customary closing conditions.