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Orion to pay US$225M for 50% interest in Greenstone Gold Mines December 16, 2020 Premier Gold Mines and Centerra Gold have entered into an agreement with an affiliate of the Orion Mine Finance Group pursuant to which Orion will acquire Centerra’s 50% interest in the Greenstone Gold Mines (GGM) partnership for cash consideration of US$225 million plus certain contingent payment obligations of approximately US$75 million. Premier currently owns the other 50% of GGM. Meanwhile, affiliates of Orion beneficially own or control approximately 13.9% of the outstanding common shares of Premier and, as such, Orion is considered a ‘related party’ and an ‘insider’ of Premier for the purposes of applicable securities laws and stock exchange rules. ....
Market movers: Stocks that saw action on Wednesday - and why Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer A roundup of some of the North American equities making moves in both directions today On the rise Aphria Inc. (APHA-T) and rival Tilray Inc. (TLRY-Q) rose in the wake of announcing their intentions to merge, creating the world’s largest cannabis producer by sales and giving it a foothold in the fast-growing U.S. market. ....
Equinox acquiring Premier Gold Mines in all-stock deal theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff 2 Min Read (Reuters) -Canadian miner Equinox Gold Corp said on Wednesday it would buy Premier Gold Mines Ltd in an all-stock deal valued at C$611.7 million ($479.9 million) and simultaneously spin-out Premier’s U.S. production assets. The deal, worth about C$2.57 per share, represents a 2% premium to Premier’s Tuesday close according to Reuters. It fits Equinox’s strategy “to grow as big as we can as quickly as we can,” chairman Ross Beaty said on a call. Cost-conscious miners have bulked up as gold prices climbed to record highs of above $2,000 an ounce this year. On Tuesday, private equity firm Orion Mine Finance Group said it would buy gold miner Centerra Gold Inc’s 50% interest in the Greenstone Gold Mines partnership for $225 million in cash. Premier Gold has a 50% stake in the partnership, whose principal asset is the Hardrock mine in the Canadian province of Ontario. ....
THUNDER BAY Two new players are taking over development of a new gold mine just outside Geraldton. Canadian mining company Equinox Gold Corp. has announced the friendly acquisition of Thunder Bay-based Premier Gold Mines. Equinox will retain Premier s 50 per cent interest in the Greenstone Gold Mines Hardrock Project at Geraldton, as well as other properties. The announcement comes a day after Premier and Centerra Gold announced that the private equity firm Orion Mine Finance Group had agreed to acquire Centerra s 50 per cent interest in the Greenstone Gold Mines Partnership, for $225 million. When that deal was revealed, Premier s CEO and president, Ewan Downie, said it paves the way for the development of Premier’s flagship asset. We look forward to working with Orion, a long-standing supportive partner of Premier, in advancing the Hardrock Project on an expedited timeline. ....