Prospector Metals arranges $10M financing with B2Gold

Executive Summary

• Prospector Metals Corp. has secured a $10 million strategic equity investment from B2Gold Corp.
• B2Gold will acquire 10,309,278 common shares at $0.97 per share, increasing its beneficial ownership to approximately 17.2% of the company.
• The proceeds are designated for the fully funded 2026 drill program on Prospector's flagship ML project in the Yukon.

Key Details

• Transaction Structure: B2Gold Corp. subscribed for an aggregate of 10,309,278 common shares of Prospector Metals Corp.
• Price: $0.97 per share.
• Gross Proceeds: $10 million.
• Use of Proceeds: Funding the 2026 drill program on the ML project in the Yukon; the 2025 drill program is noted as having successfully defined several high-grade gold trends.
• Ownership Impact: Upon completion, B2Gold will hold approximately 17.2% of the issued and outstanding common shares.
• Legal Basis: The investment was made pursuant to subscription rights granted under an investor rights agreement from B2Gold's initial strategic investment (disclosed June 28, 2024).
• Conditions: Closing is subject to satisfaction of certain conditions, including approval by the TSX Venture Exchange.
• Hold Period: All securities issued are subject to a hold period of four months and one day from the date of closing, per Canadian securities laws.
• Fees: No finders' fees or commissions are payable in connection with the offering.

Notable Quotes

• "We are excited to continue and strengthen our partnership with B2Gold, and proceeds from this investment will go towards our now fully funded 2026 drill program on our flagship ML project, Yukon. Our 2025 drill program successfully defined several high-grade gold trends, which will be fully evaluated in 2026." — Dr. Rob Carpenter, CEO and Director of Prospector Metals