Pacific Road to buy $19.2 mln of equity in newly formed Equinox
Pacific Road Resources Funds, an Australian mining private equity firm, said it will exercise non-dilution rights to acquire additional equity in Vancouver-based mining company Equinox Gold Corp (TSX-V: EQX), formerly known as Trek Mining Inc. The deal will provide Equinox with proceeds of about $19.2 million and increase Pacific Road's interest in the business to about 10.1 percent of outstanding common shares. Pacific Road took the step as a result of the December formation of Equinox through the merger of Trek with NewCastle Gold Ltd and Anfield Gold Corp. The new entity’s current focus is bringing its Aurizona Gold Mine in Brazil to production.
16 January 2018•3 mins read
