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Equinox Gold Reports Premier Gold Securityholder Approval of Acquisition

Petrochemical industry | 24 Feb 2021 IST | Polymerupdate.com
Equinox Gold Corp. is pleased to announce that shareholders and option holders of Premier Gold Mines Limited earlier voted 99.9% to approve the acquisition by Equinox Gold of all of the issued and outstanding common shares of Premier by way of a statutory plan of arrangement previously announced on December 16, 2020 (the "Transaction").

On closing of the Transaction, Premier shareholders will receive 0.1967 of an Equinox Gold share for each Premier share held, such that existing Equinox Gold and Premier shareholders will own approximately 84% and 16% of Equinox Gold, respectively, on an issued share basis. The Transaction is expected to close in March subject to certain regulatory approvals and other customary closing conditions.

By approving the Transaction, Premier securityholders also approved the spin-out to Equinox Gold and Premier shareholders shares of a newly created US-focused gold production and development company to be called i-80 Gold Corp. ("i-80 Gold") that will own Premier's existing Nevada assets. Upon completion of the Transaction and prior to giving effect to the issuance of any i-80 Gold shares in connection with any equity financing or acquisition to be completed by i-80 Gold, Equinox Gold and existing shareholders of Premier will own 30% and 70% of i-80 Gold, respectively.

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.
Note: This story has not been edited by The Polymerupdate Editorial team and is auto-generated from a syndicated feed.

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