Acquisition of Premier Gold 

On December 16, 2020, Equinox Gold announced its friendly acquisition of Premier Gold Mines. Equinox Gold will retain Premier’s interest in the world-class Hardrock Project in Ontario, Canada, the Mercedes Mine in Mexico, and the Hasaga and Rahill-Bonanza properties in Red Lake, Ontario.

Acquisition of Premier Gold Mines

On December 16, 2020, Equinox Gold announced that the companies have entered into a definitive agreement whereby Equinox Gold will acquire all of the outstanding shares of Premier. Premier shareholders will receive 0.1967 shares of Equinox Gold for each Premier share held. Concurrently, Premier will spin-out to its shareholders shares of a newly created US-focused gold production and development company to be called i-80 Gold Corp., with Premier shareholders receiving 0.4 of a share of i-80 Gold for each Premier share held.

Equinox Gold will retain Premier’s interest in the world-class Hardrock Project in Ontario, the Mercedes Mine in Mexico, and the Hasaga and Rahill-Bonanza properties in Red Lake, Ontario. i-80 Gold will own the South-Arturo and McCoy-Cove properties and will complete Premier’s previously announced acquisition of the Getchell Project, all in Nevada.

On closing of the Transaction, existing Equinox Gold and Premier shareholders will own approximately 84% and 16% of Equinox Gold, and Equinox Gold and existing shareholders of Premier will own 30% and 70% of i-80 Gold, respectively, on an issued share basis.

The Transaction is further subject to certain regulatory approvals, including the approvals of Premier shareholders, the Mexican Comisión Federal de Competencia Económica, the Toronto Stock Exchange and the NYSE American Stock Exchange, and other customary closing conditions. The Transaction is expected to close in the first quarter of 2021.

transaction webcast

Equinox Gold and Premier held a joint conference call and webcast to discuss the Transaction.

Read the press release
Watch the webcast
Download the webcast slides

Transaction Highlights

 

1 Highlights from the Hardrock Feasibility Study, shown on a 100% basis. See Premier news release dated December 16, 2020.

2 At a 0.35 g/t cut-off grade. A breakdown of Mineral Reserves is provided at the end of this news release.

 

 

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