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

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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 […]

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