02:05 PM EDT, 05/13/2024 (MT Newswires) -- Equinox Gold ( EQX ) said Monday it closed the US$995-million purchase of the remaining 40% of Greenstone Gold Mine . from certain funds managed by Orion Mine Finance Management LP.

The deal provides Equinox Gold ( EQX ) with 100% ownership of the Greenstone Mine in Ontario.

In connection with the deal, Equinox Gold ( EQX ) completed the previously announced US$500 million three-year term loan.

"Closing of this transaction consolidates our ownership of the world-class Greenstone Mine, a long-life, low-cost gold mine of significant scale in a top-tier mining jurisdiction," chief executive Greg Smith said. "We again thank Orion for their partnership and support over the last few years and look forward to delivering value to all our stakeholders as we advance the Greenstone Mine towards commercial production."

The company's shares were last seen C$0.165 yo C$7.015 on the Toronto Stock Exchange.

Price: 7.01, Change: -0.17, Percent Change: -2.37