VANCOUVER, British Columbia, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Equinox Gold Corp. (TSX-V:EQX) (“Equinox Gold” or the “Company”), formerly Trek Mining Inc. (TSX-V:TREK), is pleased to announce that Trek Mining Inc., NewCastle Gold Ltd. (“NewCastle”) and Anfield Gold Corp. (“Anfield”) have combined their businesses to create Equinox Gold, following final approval by the TSX Venture Exchange (“TSX-V”) of the previously announced plan of arrangement.
“The overwhelming support for this merger from NewCastle and Anfield shareholders underscores the long-term growth potential of Equinox Gold,” said Christian Milau, CEO of Equinox Gold. “Equinox Gold has near-term production from the Aurizona Gold Mine in Brazil, significant production upside from the Castle Mountain Gold Mine in California and an exceptional development pipeline of gold and copper assets. We look forward to reporting on progress in 2018 as we work to achieve production and build a leading gold company.”
The Equinox Gold Board of Directors includes Ross Beaty, Christian Milau, Greg Smith, Marcel de Groot, Lenard Boggio, Marshall Koval and Jacques McMullen. Ross Beaty has been appointed as Chairman of the Board of Directors.
Equinox Gold’s shares and warrants are now trading on the TSX-V in Canada under the symbols “EQX” and “EQX.WT”, respectively, and on the OTC in the United States under the symbol “LWLCF” and “LWLLF”, respectively. Anfield shares have ceased trading by way of a trading halt. NewCastle shares are expected to be de-listed shortly.
Equinox Gold’s new website is live at www.equinoxgold.com.
Equinox Gold is also pleased to report that the sale of the shares of Mayaniquel S.A. to International Nickel Supply SA (“INS”) was completed on December 21, 2017 and the Company has received the remaining US$12.5 million in cash from INS. Further, the sale of Chapleau Resources Ltd., and its Coringa Gold Project, to Serabi Gold PLC (“Serabi”) was completed on December 21, 2017 and the Company has received the initial payment of US$5 million in cash from Serabi. A further US$5 million in cash is payable within three months of the closing and a final payment of US$12 million in cash is due upon the earlier of first gold being produced from the Coringa Gold Project or 24 months from the date of closing. Payment of the future purchase price installments is secured by a pledge in the Company’s favour on the shares of Chapleau Resources Ltd. For further details on these transactions, please refer to the respective news releases issued by Anfield on December 21, 2017, which are available on SEDAR at www.sedar.com under Anfield’s profile.
Equinox Gold Contacts
Christian Milau, CEO
Rhylin Bailie, Vice President Investor Relations
Tel: +1 604-558-0560
About Equinox Gold
Equinox Gold is a Canadian mining company with a multi-million-ounce gold resource base, near-term and growing gold production from two 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. Early works construction is underway at the Company’s Aurizona project in Brazil with the objective of pouring gold by year-end 2018, and a prefeasibility study is underway at the Company’s Castle Mountain project in California with the objective of restarting production. Further information about Equinox Gold’s current portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at email@example.com.
Cautionary Notes and Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of the words “will”, “expected”, “objective”, “underway” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this news release include, but are not limited to, statements regarding the growth potential of the Company, production from the Aurizona Gold Mine and Castle Mountain Gold Mine, the Castle Mountain prefeasibility study, the potential for other assets of the Company, the date at which common shares of NewCastle will be de-listed, and expectation of receiving further purchase price installments related to the sale of Anfield’s Coringa Gold Project. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company’s periodic filings with Canadian securities regulators, and assumptions made with regard to the Company’s ability to complete the Castle Mountain prefeasibility study and the results of the study; the Company’s ability to complete construction at the Aurizona project and the timing to achieve production; and the Company’s ability to achieve the expected growth and production potential, and the expectation that the Company will receive further purchase price installments from Serabi. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.