Equinox Gold and Calibre Mining to Combine to form Second-Largest Gold Producer in Canada

Equinox Gold Corp. (TSX:EQX; NYSE American: EQX) and Calibre Mining Corp. (TSX: CXB) entered into a definitive agreement in an at-market business combination whereby Equinox will acquire all of the shares of Calibre in an all-share deal valued at approximately C$2.6 billion, pursuant to a court‐approved plan of arrangement under the Business Corporations Act (British Columbia). The transaction is expected to be completed in the second quarter of 2025.

The transaction will create an Americas-focused diversified gold producer with a portfolio of operating mines in five countries anchored by two high-quality, long-life, low-cost Canadian gold mines. The combined entity will become the second largest gold producer in Canada, expected to produce approximately 950,000 ounces of gold in 2025. The implied market capitalization of the combined company is estimated at C$7.7 billion.

Canaccord Genuity Corp. provided a fairness opinion to the board of directors of Calibre in connection with the transaction. Wildeboer Dellelce LLP acted as legal counsel to Canaccord Genuity with a team consisting of Michael Rennie (corporate/securities; mining, energy & natural resources).

Full details can be found here.