Equinox Gold and Calibre Mining Merged to Create Canada’s Second Largest Gold Producer

SEATTLE (Scrap Monster):  A definitive arrangement agreement between Equinox Gold Corp. and Calibre Mining Corp. was announced, according to which Equinox will buy all of Calibre's issued and outstanding common shares. New Equinox Gold, the merged business, will remain known as "Equinox Gold Corp."

The aforementioned deal will establish a diversified gold producer with an emphasis on the Americas. The Greenstone Mine in Ontario and the Valentine Gold Mine in Newfoundland & Labrador are two low-coat Canadian mines that will dominate the operating portfolio, which will include mines in five different nations. With complete ownership of both mines, New Equinox Gold will become Canada's second-largest producer of gold.

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Without taking into consideration production from Valentine or Los Filos, the combined company is anticipated to produce close to 950,000 ounces of gold this year. When Greenstone and Valentine are operating at full capacity, it could generate over 1.2 million ounces of gold annually.

According to Equinox President and CEO Greg Smith, the merger is a revolutionary move for both Equinox and Calibre. According to him, it unites two businesses that are complementary in terms of output, development potential, operational know-how, and a shared dedication to ethical mining.