Canadian gold producer to acquire 100% of Oklo Resources at 127% premium

Canadian gold producer B2Gold is to acquire 100% of the shares of Africa-based and ASX-listed Oklo Resources Limited (ASX:OKU).

Oklo shareholders are to receive consideration with an implied value of $0.1725c per Oklo share, comprising 0.02 B2Gold shares per Oklo share and 5c cash per Oklo share. 

The implied value is derived from the Canadian dollar $5.256 VWAP of B2Gold shares on the Toronto Stock Exchange over the 5 trading days up to 24 May 2022. 

Oklo Resources management considers the transaction to be mutually beneficial as B2Gold gains optionality over Oklo's high grade Dandoko Project, and, Oklo shareholders receive something back from the acquisition. 

(Source: Oklo Resources) A map locating the Dandoko project

B2Gold to take on Dandoko Project at Senegal-Mali shear zone

Oklo Resources is an ASX-listed gold exploration company with a total landholding of 1405 square kilometres covering greenstone belts and a resource of some 668,500 ounces of gold. 

Its landholdings in West Mali include the company's flagship Dandoko Project to the least of the Senegal-Mali shear zone and in close proximity to other operations.

B2Gold supporting Oklo through transaction process

That process will be implemented by way of a scheme of arrangement subject to the approval of Oklo shareholders at a meeting to be held in August 2022. 

The scheme is subject also to court approval; upon implementation, Oklo shareholders will own some 1% of the B2Gold shares on issue. 

B2Gold has executed a funding agreement to ensure Oklo is fully funded through to the completion of the acquisition.

(Source: Oklo Resources) A timeline of approvals the company expects to undertake ahead of acquisition