Equinox Gold merges with Calibre Mining to create Canada’s second-largest gold producer

Equinox Gold and Calibre Mining have announced that they were merging to create a major Americas-focused gold producer. The new Equinox company would become Canada’s second-largest gold producer.

Under the agreement, Equinox will acquire all issued and outstanding common shares of Calibre through a court-approved plan of arrangement. Under the terms of the agreement, Calibre shareholders will receive 0.31 Equinox common shares for each Calibre common share held immediately. Equinox stated that the implied market capitalization of the combined company is estimated at C$7.7 billion.

The merger will create a diversified gold producer with a portfolio of mines in five countries across the Americas, anchored by two high-quality, long-life, low-cost Canadian gold mines: the Greenstone Mine in Ontario and the Valentine Gold Mine in Newfoundland & Labrador.