Equinox Gold Invests Further $12.6 Million Into i-80 Gold

It appears that Equinox Gold (TSX: EQX) continues to be interested in being a major shareholder of i-80 Gold Corp (TSX: IAU). The firm this morning announced that it would be exercising certain top-up rights it has with the company to push its ownership back over 25%.

The arrangement will see Equinox invest a further $12.6 million into the company via a private placement. A total of 4.8 million new shares will be issued to Equinox, at a price per share of $2.62.

Prior to the closing of the transaction, Equinox held 56.0 million shares in i-80, representing 24.0% on the outstanding shares. Following the closing of the private financing, the firm will see its ownership jump to 60.8 million shares, or approximately 25.5% of all outstanding shares, while owning 26.2% of the firm on a partially diluted basis.

The top-up provision came into play for the firm following the acquisitions of the Lone Tree and Buffalo Mountain deposits from Nevada Gold Mines, as well as the acquisition of the Ruby Hill mine from Waterton Global Resource Management.

i-80 Gold Corp last traded at $2.59 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Equinox Gold: BMO Reiterates $14.50 Price Target After Production Results

On January 13th, Equinox Gold (TSX: EQX) reported their fourth quarter and full-year 2021 production...

Monday, January 17, 2022, 04:21:00 PM

Minera Alamos: Stock Craters On Deal To Buy Equinox’s Nevada Assets

Every now and then there’s a transaction that occurs in this market that makes you...

Sunday, August 17, 2025, 09:23:00 AM

i-80 Gold Outlines $155 Million After-Tax NPV For Granite Creek Underground In PEA

i-80 Gold (TSX: IAU) has released a preliminary economic assessment for its Granite Greek Underground...

Wednesday, March 5, 2025, 07:34:56 AM

i-80 Gold Bares Roadmap To Nevada-Focused Mining Company Producing 500,000 Ounces Annually

i-80 Gold Corp. (TSX: IAU) shared this morning the details of its development plans for...

Wednesday, January 12, 2022, 11:39:00 AM

Equinox Gold Reports US$314 Million After-Tax NPV For Aurizona Gold Mine

Equinox Gold Corp. (TSX: EQX) shared today the results of its pre-feasibility study for an...

Monday, September 20, 2021, 10:34:00 AM