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Mining News March 11, 2020 02:30:53 PM

Equinox Gold and Leagold Completes Landmark Merger Deal

Paul Ploumis
ScrapMonster Author
Further to this, common shares and warrants of Equinox Gold will continue to trade on the TSE and NYSE as before.

Equinox Gold and Leagold Completes Landmark Merger Deal

SEATTLE (Scrap Monster): Equinox Gold and Leagold Mining Corporation announced that the merger transaction between the two entities has come to a close. The closing of the merger deal has led to creation of one of the world’s top gold producing companies operating entirely in the Americas.

Commenting on the all-important development, Ross Beaty, Executive Chair of Equinox stated that the deal has created a major gold producer by combining the assets and leadership teams of Equinox Gold and Leagold. The new entity, Equinox Gold, owns six producing mines, two development projects, two expansion projects. The combined management team will now focus on further building Equinox Gold into an important global gold producer, Beaty noted.

ALSO READ: Magna Gold Declares Acquisition of Mexican Gold Mine

Further to this, common shares and warrants of Equinox Gold will continue to trade on the TSE and NYSE as before. Meantime, Leagold shares will soon be de-listed.

The transaction will combine Leagold’s four mines in Mexico and Brazil to Equinox’s two mines in the U.S. and Brazil. The market capitalization of the entity is estimated at around $1.75 billion. The $578 million acquisition deal was initially announced in mid-December last year.

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