Equinox Gold (EQX) completed the previously announced sale of its Aurizona Mine, RDM Mine and Bahia Complex located in Brazil to a subsidiary of the CMOC Group (CMCLF) for total consideration of up to $1.015B. Equinox Gold received cash proceeds of $900M, before closing adjustments, and will receive a production linked contingent cash payment of up to $115M on January 23, 2027. The Company will immediately fully repay its $500M Term Loan, pay $300M to extinguish the Sprott Loan and related obligations, and make a payment on its revolving credit facility. This will reduce the Company’s senior debt to approximately $580M and significantly lower its interest expense. The Transaction was completed through the sale of the issued and outstanding shares of certain non-Brazilian wholly owned subsidiaries of the Company that indirectly owned the Brazil Operations.
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