Equinox Gold gets $120 million credit facilities to purchase mine

By Wendy Van Sickle

Columbus, Ohio, Sept. 19 – Equinox Gold Corp. will fund its purchase of the Mesquite Gold Mine with a $100 million acquisition credit facility from Bank of Nova Scotia and a $20 million credit facility from Sprott Private Resource Lending (Collector), LP, according to a press release.

The company will also use proceeds totaling $75 million from an underwritten brokered private placement and a non-brokered private placement for the purchase.

Equinox will purchase the California gold mine from New Gold Inc. for a $158 million cash consideration.

Completion of the acquisition is expected to occur in the fourth quarter of 2018.

Based in Vancouver, B.C., Equinox is a mining company with a multi-million-ounce gold reserve base and near-term and growing gold production from two past-producing mines.

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