TORONTO (miningweekly.com) - Canadian juniors Central Sun Mining and B2Gold have combined their businesses, after the all-share transaction received court approval on Wednesday.

Central Sun shareholders received 1,28 of B2Gold's shares for every Central Sun share held, and all of the outstanding stock options of Central Sun were replaced by options to purchase common shares of B2Gold.

B2Gold now has 243,42-million shares issued and outstanding, the firm said on Thursday.

Former president and CEO of Central Sun Peter Tagliamonte and director Bruce Humphrey have been appointed to the board of directors of B2Gold, with  the existing six directors of B2Gold continuing as directors.

B2Gold offered to buy Central Sun, to gain exposure to its producing 45 000-oz/y Limon gold mine, in Nicuaragua.

The company also plans to restart Central Sun's Orosi mine in the third quarter of this year, and  aims to increase gold production to 130 000 oz/y by year-end

B2Gold is exploring properties in Colombia and Panama, as well as around Kinross Gold's Kupol mine, in Russia.

It's most advanced prospect is the Gramalote project, which it operates but owns in joint venture with AngloGold Ashanti.

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