Equinox Gold Corp. acquires New Gold Inc.-Mesquite Gold for US$158M

USA - Equinox Gold Corp. of Canada definitively agreed to acquire the Mesquite Gold Mine of New Gold Inc., a Toronto-based gold ore mine operator, for a total US$158 million in cash.

USA - Equinox Gold Corp. of Canada definitively agreed to acquire the Mesquite Gold Mine of New Gold Inc., a Toronto-based gold ore mine operator, for a total US$158 million in cash.

Date Announced: 09/19/2018
Deal Status (as of publication date): Pending
Deal Value (US mil): $158

ACQUIRER ADVISORS*
Scotiabank (Financial Advisor)
Blake, Cassels & Graydon LLP (Legal Advisor)

TARGET ADVISORS*
BMO Capital Markets (Financial Advisor)
Cassels Brock & Blackwell LLP (Legal Advisor)

The Mesquite gold mine of New Gold Inc. is located in California. It produces on average 135,000 ounces of gold annually over the previous ten years. Its gold deposit at December 31, 2017 was estimated at 1.13 million ounces of Proven & Probable Reserves and an additional 1.18 million ounces of Measured and Indicated Resources. 

New Gold Inc., headquartered in Ontario, Canada, is a gold, copper and silver mining company. It is currently focused on the development and exploration of the New Afton Copper-Gold Project, located in Kamloops, British Columbia. Its other exploration properties are in Mesquite, California; Cerro San Pedro, Mexico; New Afton, Canada; El Morro, Chile; and Peak Mines, Australia. The Company was founded in 1980.

Equinox Gold Corp., located in Vancouver, British Columbia, is a gold mining company. It has a gold resource base, near term and growing gold production from past producing mines in Brazil and California, and a long term growth platform with a diverse portfolio of gold and copper assets in North and South America. The Company was founded on March 23, 2007.

*List of advisors are those known at press time.

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