- Calibre Mining Corp. (CXBMF, Financial) plans a crucial vote for its merger with Equinox Gold Corp., scheduled for April 24, 2025, with a voting deadline of April 22, 2025.
- The merger aims to create Canada's second-largest gold producer, potentially yielding over 1.2 million ounces annually from mines in five countries.
- Independent proxy advisory firm ISS recommends voting in favor of the merger due to significant strategic benefits and operational synergies.
Calibre Mining Corp. (CXBMF) is approaching a pivotal vote concerning its proposed business combination with Equinox Gold Corp. The special meeting will occur on April 24, 2025, with a deadline for proxy voting set for April 22, 2025. This proposed merger, strongly recommended by Institutional Shareholder Services Inc. (ISS), anticipates significant strategic benefits including increased production and market presence.
The combined entity is expected to become the second-largest gold producer in Canada, with a projected annual production exceeding 1.2 million ounces from mines across five different countries. Key production contributions are expected from the new Greenstone Gold Mine and Valentine Gold Mine, which together are forecasted to produce 590,000 ounces annually.
Upon successful merger completion, Greg Smith will continue as CEO, and Darren Hall, current CEO of Calibre, will assume the role of President and COO of the combined company. The merger promises substantial free cash flow and potential operational synergies, reinforcing its appeal to shareholders.
Despite a recommendation against the merger from another advisory firm, Glass, Lewis & Co., the Calibre Board remains steadfast in promoting the strategic advantages of this merger, which it believes will significantly benefit shareholders in the long term. The aim is to capitalize on economies of scale, increased market footprint, and enhanced operational synergy.
Securityholders are encouraged to cast their votes before the deadline on April 22, 2025. For assistance, they can reach out to Laurel Hill Advisory Group via phone or email. Additional details and resources are available on Calibre's official website.
