Auryx Gold Becomes a Wholly-owned Subsidiary of B2Gold

- December 22nd, 2011

B2Gold Corp. (TSX:BTO,OTCQX:BGLPF) and Auryx Gold Corp. (TSX:AYX) announced that they have completed the previously announced business combination: Auryx has become a wholly-owned subsidiary of B2Gold.

B2Gold Corp. (TSX:BTO,OTCQX:BGLPF) and Auryx Gold Corp. (TSX:AYX) announced that they have completed the previously announced business combination: Auryx has become a wholly-owned subsidiary of B2Gold.

As quoted in the press release:

The Transaction was carried out by way of a plan of arrangement under the Business Corporations Act (British Columbia), which was approved by the shareholders of Auryx on December 15, 2011 and the Supreme Court of British Columbia on December 20, 2011.

Pursuant to the plan of arrangement and effective upon closing of the Transaction, Auryx has become a wholly-owned subsidiary of B2Gold and all of the issued and outstanding common shares of Auryx have been transferred to B2Gold in consideration for the issuance by B2Gold of 0.23 of a common share of B2Gold (the “Exchange Ratio”), plus a cash payment of $0.001, for each Auryx share. All of the outstanding options of Auryx have been exchanged under the arrangement and the holders of the Auryx options have received options to purchase common shares of B2Gold based on the Exchange Ratio. All outstanding warrants and agent’s options to acquire Auryx shares will, pursuant to their terms, be exercisable for common shares of B2Gold based on the Exchange Ratio.

Click here to read the Auryx Gold (TSX:AYX) press releaseSee this press release on Marketwire
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