Canadian court approves creation of Equinox Gold
Published by Harleigh Hobbs,
Global Mining Review,
NewCastle and Anfield have been granted a final order by the Supreme Court of British Columbia, approving the previously announced plan of arrangement (the Transaction) whereby the businesses will be combined with Trek Mining to create Equinox Gold Corp., a new multi-asset mining company.
Substantially all the terms and conditions of the Transaction have been met and it was expected that the Transaction will close on 22 December 2017.
On closing of the Transaction, NewCastle shareholders will receive 0.873 Equinox Gold common shares for each NewCastle share held, and Anfield shareholders will receive 0.407 Equinox Gold common shares for each Anfield share held. Each NewCastle warrant and option and Anfield option will become exercisable for Equinox Gold common shares, as adjusted in accordance with the applicable exchange ratio. In addition, each Trek Mining common share will represent one common share of Equinox Gold, and each Trek Mining warrant and option will become exercisable for Equinox Gold common shares.
Equinox Gold common shares and warrants were expected to commence trading on the TSX-V at market open on 22 December 2017 under the ticker symbols “EQX” and “EQX.WT”, respectively. On the OTC market in the US, the Equinox Gold shares and warrants will continue trading as “LWLCF” and “LWLLF”, respectively. Anfield shares are expected to cease trading by way of a trading halt at market open on 22 December 2017. NewCastle shares are expected to be de-listed shortly following completion of the Transaction.
Read the article online at: https://www.globalminingreview.com/finance-business/02012018/canadian-court-approves-creation-of-equinox-gold/
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