Equinox Gold Corp. (TSX:EQX) entered into a binding share purchase agreement to acquire remaining 40% stake in Greenstone Gold Mines GP Inc from certain funds managed by Orion Resource Partners (USA), L.P. for approximately $980 million on April 23, 2024. The acquisition giving Equinox Gold 100% ownership of the Greenstone Mine (?Greenstone?) in Ontario, Canada. Under the terms of the SPA, Equinox Gold will pay $995 million to acquire Orion?s 40% interest in Greenstone, payable as follows: 42.0 million common shares of Equinox Gold valued at $250 million; $705 million in cash payable on closing; and $40 million in cash payable by December 31, 2024. Equinox Gold will fund the cash consideration with net proceeds from both a new $500 million three-year term loan and a bought deal equity financing of common shares of Equinox Gold for approximately $299 million. Completion of the Transaction is expected to occur in Q2 2024 and is subject to customary closing conditions and receipt of certain regulatory and other approvals. The Transaction does not require shareholder approval.

GenCap Mining Advisory Ltd. is acting as financial and debt advisor and Blake, Cassels & Graydon LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal counsel to Equinox Gold. RBC Capital Markets is acting as financial advisor and Torys LLP is serving as legal counsel to Orion.