Equinox Gold (EQX) and Calibre Mining said late Wednesday the companies have updated the terms of their proposed merger announced in February.
Under the amended agreement, the companies said Calibre shareholders will receive 0.35 Equinox shares for each Calibre share, reflecting a 10% premium to Calibre's share price as of Feb. 21.
The companies said Equinox shareholders will own about 61% and Calibre shareholders 39% of the new combined company after the merger.
Both companies have postponed their shareholder meetings to May 1 to give investors more time to review and vote on the new terms, it added.
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