On February 23, 2025, Calibre Mining Corp. and Equinox Gold Corp. entered into a definitive arrangement agreement in an at-market business combination whereby Equinox will acquire all issued and outstanding common shares of Calibre pursuant to a court-approved plan of arrangement. Pursuant to the arrangement, Calibre shareholders will receive 0.31 of an Equinox common share in exchange for each Calibre share held. Upon closing of the arrangement, existing Equinox and Calibre shareholders will own approximately 65% and 35% of the issued and outstanding Equinox shares, respectively. The transaction will create an Americas-focused diversified gold producer with a portfolio of operating mines in five countries anchored by two high-quality, long-life, low-cost Canadian gold mines. The implied market capitalization of the combined company is estimated at $7.7 billion.
Cassels is acting for Calibre with an arrangement deal team.