Le Lézard
Classified in: Mining industry, Business

B2Gold Namibia Exercises Call Option to Acquire Balance of Shares in Razorback


TORONTO, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) ("Forsys" or the "Company") is pleased to announce that B2Gold Mining Investments Limited and B2Gold Namibia (Proprietary) Limited (together "B2Gold") has exercised its call option to increase its existing shareholding in Razorback Gold Mining Company (Pty) Limited ("Razorback") to 100% (the "call option"). Pending the completion of the exercise, Forsys currently owns a 51% interest in Razorback.

Razorback holds the Ondundu Exclusive Prospecting Licence ("EPL 3195") for base, rare and precious metal exploration.

The consideration for exercise of the call option is a net amount of US$7,716,118. being the option price of US$8,500,000 less the fees paid by B2Gold for the extension of the option period of US$250,000 and less the other payments made by B2Gold to buy-out interests in EPL 3195 amounting to US$533,882.

About Forsys Metals Corp.

Forsys Metals Corp. is a uranium focused development company with 100% ownership of the Norasa project that comprises the Valencia and Namibplaas uranium projects in Namibia, Africa a politically stable and mining friendly jurisdiction. Information regarding current National Instrument 43?101 compliant Resource and Reserves at Valencia and Namibplaas are available on the Company website forsysmetals.com and under the Company's filings on SEDAR.

On behalf of the Board of Directors of Forsys Metals Corp. Richard Parkhouse, Director, Investor Relations.

For additional information please contact:

Richard Parkhouse Director, Investor Relations
email: [email protected] email: [email protected]
Phone: +44 (0) 7730 493432

Forward-Looking Information

This news release contains projections and forward?looking information that involve various risks and uncertainties regarding future events. Such forward?looking information includes statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause Forsys actual results to differ materially from those expressed or implied by such forward looking statements: fluctuations in uranium prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology; continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; recovery rates, production estimates and estimated economic return; general market conditions; the uncertainty of future profitability; and the uncertainty of access to additional capital. Full description of these risks can be found in Forsys Annual Information Form available on the Company's profile on the SEDAR website at www.sedar.com. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward?looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward?looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward?looking information should circumstance or management's estimates or opinions change. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

These press releases may also interest you

at 19:20
Imperial Metals Corporation (the "Company") reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management information circular dated April 1, 2022 were elected as directors of the Company at the...

at 18:07
Raglan Mine, a Glencore company, has asked the Ministry of Labour, Employment and Social Solidarity to appoint an independent mediator to facilitate discussions at the negotiation table with United Steelworkers Union, Local 9499. This request follows...

at 17:56
Allied Electronics & Automation, a trading brand of RS Group plc (LSE: RS1), a global omni-channel provider of product and service solutions, offers more than 1,500 ready-to-ship electrical connectivity solutions from industry-leading suppliers...

at 17:30
Ascendant Resources Inc. ("Ascendant" or the "Company") is pleased to announce the closing of the second and final tranche (the "Second Tranche") of its previously announced non-brokered private placement of common shares of the Company (the...

at 17:16
Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of ROCA ACERO S.A. de C.V. (ROCA), a ferrous and nonferrous scrap metals recycling business, to Steel Dynamics, Inc. . As previously disclosed by Steel Dynamics, the company will...

at 17:05
Galane Gold Ltd. ("Galane Gold" or the Company") is pleased to announce the release of its financial results for the three months ended March 31, 2022. A copy of the unaudited condensed consolidated interim financial statements for the three...

News published on 25 january 2022 at 17:00 and distributed by: