Equinox Gold (TSX: EQX)
The “Company and Orla Mining Ltd. (TSX: OLA; NYSE American: ORLA) are pleased to announce the successful completion of their previously announced business combination, creating North America’s new senior gold producer.
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Valentine Mine – Credits Equinox Gold Corp.
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| Equinox Gold | TSX: EQX | |
| Stage | Production, development, exploration | |
| Metals | Gold | |
| Market cap | C$11 Billion @ C$13.81 | |
| Location | Canada, Nicaragua, USA | |
| Website | www.equinoxgold.com |
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Equinox Gold and Orla Mining Complete Business Combination, Creating North America’s New Senior Gold Producer
Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the “Company”) and Orla Mining Ltd. (TSX: OLA; NYSE American: ORLA) are pleased to announce the successful completion of their previously announced business combination (the “Transaction”), creating North America’s new senior gold producer.
The combined company is expected to produce approximately 1.1 million ounces of gold annually1, with a clear path to more than 1.9 million ounces2as its high-quality North American growth projects are developed.
Highlights
- Combined company anticipated to produce 1.1 million ounces of gold annually
- Clear path to more than 1.9 million ounces through high-quality North American growth projects
- Planned Chief Executive Officer succession positions the Company for its next phase of growth
The combined company brings together a portfolio of high-quality producing mines, a peer-leading pipeline of growth projects, substantial free cash flow generation and highly experienced leadership and technical teams.
Upon closing of the transaction, Ross Beaty has stepped down as Chairman of the Board and has been appointed Chairman Emeritus and Special Advisor to the Board. Chuck Jeannes has been appointed incoming Chairman of the Board.
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Ross Beaty, retiring Chairman of Equinox Gold, stated:
“When we founded Equinox Gold just over eight years ago, we set out to build a company that would become a leading gold producer.
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“It has been immensely rewarding to see that vision take shape, culminating in our combination with Orla, which now positions Equinox Gold as a senior gold mining company with tremendous potential for further growth.
“While I am stepping down as Chairman, I am not stepping away, and I look forward to contributing to the company’s continued success as Special Advisor to the Board.
“I want to sincerely thank my fellow directors, our employees, our shareholders, and the communities where we operate for their trust and support. Building companies is always a team effort. I am proud of what we have accomplished together and excited to see the Company continue to grow, create value, and seize the opportunities ahead.”
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Darren Hall, CEO of Equinox Gold, commented:
“Building Equinox Gold into a senior producer has been the privilege of my career. I am proud of what this team has accomplished together, and am confident Jason will lead the company through an exceptional next chapter.
This is the right moment for this transition, and I leave knowing the Company is in very good hands.”
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Equinox Gold’s reconstituted Board now consists of: Chuck Jeannes (Chairman), Lenard Boggio (Lead Director), Tamara Brown, Omaya Elguindi, Douglas Forster, Darren Hall (CEO), Blayne Johnson, Rob Krcmarov, Jason Simpson (President), David Stephens and Mike Vint.
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To read the full news release please click HERE
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To see the latest share price and chart, please click HERE.
To View Equinox Gold’s historical news, please click here
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in Equinox Gold and Orla Mining.
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