B2Gold Corp ( BTG ) shares are trading lower on Friday.

The company said it sold an aggregate of 79 million common shares of Calibre Mining Corp. in the ordinary course for investment purposes by way of a block trade. The deal will garner aggregate gross proceeds of C$139.04 million.

B2Gold ( BTG ) said it would be filing an early warning report under National Instrument 62-103 in connection with the sale of the Calibre shares.

Immediately before the deal, B2Gold ( BTG ) owned 110.95 million common shares of Calibre, representing approximately 14.1% of Calibre.

As a result of the transaction, B2Gold’s ownership has decreased to less than 10% of the issued and outstanding common shares of Calibre.

Yesterday, the company announced an initial Inferred Mineral Resource Estimate for the Springbok Zone, the southernmost shoot of the recently discovered Antelope deposit.

It is located approximately three kilometers south of the Otjikoto Phase 5 open pit at the Otjikoto Mine in Namibia. 

Earlier this month, the company inked a pact with Sandbox Royalties. In connection with the transaction, Sandbox has been renamed Versamet Royalties Corporation.

Under the deal, Versamet will acquire ownership of the Royalties and will issue 153.2 million common shares to B2Gold ( BTG ) at a price of C$0.80 per share, representing an equity ownership interest in Versamet of 33.0% valued at approximately $90 million. 

Price Action: B2G shares are trading lower by 1.88% to $2.61 at last check Friday.

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