Minera Alamos Inc. (TSXV: MAI) has entered into a definitive agreement to acquire Equinox Gold Corp.’s (TSX: EQX; NYSE American: EQX) 100% interest in the Pan Mine, Gold Rock Project, and Illipah Project in Nevada, USA for US$115 million (approximately C$155 million). The consideration includes US$90 million (C$121 million) in cash and US$25 million (C$34 million) in Minera Alamos shares, capped to ensure Equinox holds no more than 9.99% of Minera Alamos’ issued and outstanding shares. If needed, the cash component will increase to preserve this cap. The transaction is expected to close in Q4 2025, subject to regulatory and stock exchange approvals.

The acquisition transforms Minera Alamos into a diversified, Americas-focused precious metals producer with immediate cash flow from the producing Pan and Santana mines and a robust development pipeline including Cerro de Oro, Copperstone, and Gold Rock. Jason Kosec will join Minera Alamos as chairman to lead strategic growth initiatives. To finance the acquisition, Minera Alamos launched a C$110 million private placement led by Stifel Canada, with potential to increase to C$135 million.

Stifel Canada is acting as financial advisor and Gowling WLG as legal advisor to Minera Alamos. Equinox Gold is advised by Trinity Advisors Corporation, with legal counsel from Blake, Cassels & Graydon LLP. Cassels Brock & Blackwell LLP has previously represented Calibre Mining, though Calibre USA’s legal counsel in this transaction has not been formally disclosed.