10:49 AM EDT, 04/26/2024 (MT Newswires) -- Equinox Gold ( EQX ) has closed its $299 million sale of more than 56.4 million common shares at $5.30 apiece, which includes underwriters for the bought-deal financing fully exercising their over-allotment option to acquire nearly 7.4 million additional shares, the miner said on Friday.

The company is expecting to use net proceeds from the offering to fund a portion of its $995 million purchase of the 40% of the Greenstone Mine in Ontario it does not already own from funds affiliated with Orion Mine Finance Management disclosed earlier this week. Some of the proceeds also may be used to repay debt and other general corporate purposes, Equinox said.

Equinox shares were narrowly higher in recent mid-morning trading.