07:29 AM EDT, 06/21/2024 (MT Newswires) -- B2Gold ( BTG ) reduced its stake in Calibre Mining ( CXBMF ) to 4% from 14% through an arm's length sale of 79 million shares to new long-term shareholders at $1.76 per share.

B2Gold ( BTG ) will retain roughly 32 million shares of Calibre, a gold producer with a pipeline of development and exploration projects across Newfoundland and Labrador in Canada, Nevada and Washington in the U.S., and Nicaragua.

"On behalf of the entire team at Calibre, I would like to extend our sincere gratitude to Clive Johnson, President and CEO of B2Gold ( BTG ), and his team for entrusting us with their Nicaraguan assets which became the founding assets of Calibre," said Calibre Chairman Blayne Johnson. "Their decision to transfer these assets to an emerging exploration company rather than opting for immediate complete monetization, required both vision and courage."

Randall Chatwin, B2Gold's ( BTG ) representative on the Calibre board, resigned.

B2Gold ( BTG ) at last look was holding steady at US$2.66 per share in U.S. pre-market trading on Friday. The shares closed up 2.6% at $3.62 in Toronto on Thursday.