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EQX - Equinox Gold News Story

$8.21 -0.2  -2.6%

Last Trade - 13/05/21

Sector
Basic Materials
Size
Mid Cap
Market Cap £1.78bn
Enterprise Value £1.98bn
Revenue £670.5m
Position in Universe 1989th / 6855

BUZZ-Equinox Gold: Falls on deal to buy Premier Gold Mines

Wed 16th December, 2020 3:44pm
** Shares of Canadian miner  EQX.TO  fall ~3% to C$12.72
    ** EQX to buy Premier Gold Mines Ltd  PG.TO  in all-stock
deal valued at C$611.7 mln ($479.76 mln); PG shares rise 15.5%
to C$2.91
    ** PG on track for its best day since March 17
    ** Simultaneously, PG will spin-out to its shareholders
shares of newly created U.S.-focused gold production and
development co to be called i-80 Gold Corp  urn:newsml:reuters.com:*:nL4N2IW2MU
    ** Deal worth ~C$2.57/share, represents ~2% premium to
Premier's Tuesday close, as per Reuters calculation
    ** However, exact value that Premier shareholders will get
depends on pricing of the spin-out co's shares
    ** Deal expected to close in Q1 
    ** Upon closure of deal, EQX will own about 84% of Equinox
Gold and PG shareholders about 16%
    ** EQX is up ~28% YTD while PG shares are up 48.2% so far
this year

($1 = 1.2750 Canadian dollars)

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com))
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