Shares of Equinox Gold Corp., formerly Trek Mining Inc., have started trading on the TSX Venture Exchange and the OTC Markets in the U.S. following the completion of Trek's business combination with NewCastle Gold Ltd. and Anfield Gold Corp., the company said Dec. 22.
The merger was announced in October, under which Trek issued 0.873 shares for each NewCastle share and 0.407 shares for each Anfield share, resulting in NewCastle and Trek shareholders owning 44% of Equinox and Anfield shareholders owning the remaining 12%.
Equinox Gold's shares trade under the EQX ticker on the TSX-V and under the LWLCF ticker on the OTC.
The company also said it received the remaining US$12.5 million from the sale of Mayaniquel SA shares to International Nickel Supply SA and an initial US$5 million payment from the sale of Anfield's Chapleau Resources Ltd. unit, along with its Coringa gold project in Brazil, to Serabi Gold Plc. Anfield completed both deals Dec. 21.
Equinox is set to receive a further US$5 million within three months of closing Chapleau Resources' sale to Serabi and a final US$12 million payment will be due upon the earlier of first gold production from Coringa or 24 months from the date of the transaction's closing.