Eldorado Gold Completed Acquisition of Canada-based Resource Company

The addition of QMX to its portfolio will open a range of opportunities to expand Eldorado’s activities in the region, he added.

SEATTLE (Scrap Monster): Vancouver, B.C.-based Equinox Gold Corporation announced successful completion of acquisition of QMX Gold Corporation. With this the Canada-based resource company has now become a wholly-owned subsidiary of Eldorado. The acquisition deal, worth around $105 million, was initially announced during the month of January this year.

Commenting on the development, George Burns, President and Chief Executive Officer, Eldorado Gold noted that the company is very pleased to complete the acquisition of QMX. This is consistent with its strategy to invest in world-class mining jurisdictions and will significantly increase its position in the Abitibi Greenstone Belt. The addition of QMX to its portfolio will open a range of opportunities to expand Eldorado’s activities in the region, he added.

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Although Eldorado Gold undertakes mining, development and exploration activities in multiple countries such as Greece, Turkey, Romania and Brazil, it has been focusing on domestic Canadian market over the past several years.

Further to the completion of the acquisition, QMX shares will be delisted from the TSX Venture Exchange.