Business
Equinox Gold Completes Sale of Brazil Operations for Total Cash Consideration of US$1.015 Billion; Pays Down More than US$800 Million of Debt With Net Debt Reduced to US$150 Million
(All financial figures are in US dollars) VANCOUVER, British Columbia, Jan. 23, 2026 (GLOBE NEWSWIRE) -- Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the “Company”) completed the previously announced sale of its Aurizona Mine, RDM Mine and Bahia Complex located in Brazil (the “Brazil Operations”) to a subsidiary of the CMOC Group for total consideration of up to $1.015 billion (the “Transaction”). Equinox Gold received cash proceeds of $900 million, before closing adjustm
About this update from Equinox Gold Corp.
[{"type":"image","alt":"Equinox Gold Corp.","displaySize":"","headline":null,"caption":"Equinox Gold Corp.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":81,"url":"https://media.zenfs.com/en/globenewswire.com/7942b8df908c7d6681c896c9de7cdf7a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/3zrI9g2ap4s1Bt8B41PCbw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTExMztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/7942b8df908c7d6681c896c9de7cdf7a","width":300,"height":81}},"lazy":false},{"type":"text","content":"(All financial figures are in US dollars)","length":41,"tagName":"p"},{"type":"text","content":"VANCOUVER, British Columbia, Jan. 23, 2026 (GLOBE NEWSWIRE) -- Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the “Company”) completed the previously announced sale of its Aurizona Mine, RDM Mine and Bahia Complex located in Brazil (the “Brazil Operations”) to a subsidiary of the CMOC Group for total consideration of up to $1.015 billion (the “Transaction”). Equinox Gold received cash proceeds of $900 million, before closing adjustments, and will receive a production linked contingent cash payment of up to $115 million on January 23, 2027.","length":582,"tagName":"p"},{"type":"text","content":"The Company will immediately fully repay its $500 million Term Loan, pay $300 million 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 $580 million (net debt1 to approximately $150 million) and significantly lower its interest expense.","length":359,"tagName":"p"},{"type":"text","content":"Darren Hall, Chief Executive Officer of Equinox Gold, stated: “Monetizing the Brazil Operations has streamlined our portfolio and transformed our balance sheet. Equinox Gold is now well established as a leading North America focused gold producer, with greater financial flexibility to self-fund high return, near term organic growth opportunities and consider capital return initiatives. Our development pipeline has the potential to add 450,000 to 550,000 ounces of incremental annual gold production in the coming years. With a strengthened balance sheet and 2026 consolidated gold production guidance of 700,000 to 800,000 ounces providing robust cash flow generation, we are well positioned...