On October 6, 2016, JDL Gold Corp. (formerly Lowell Copper Ltd.), Gold Mountain Mining Corporation (“Gold Mountain”) and Anthem United Inc. (“Anthem”) (together the “Parties”) announced the completion of their previously announced business combination (the “Transaction”) to create JDL Gold Corp. (“JDL Gold” or the “Company”). Pursuant to the Transaction, each Gold Mountain common share has been exchanged for 1.032 pre-consolidated common shares of JDL Gold. Related to the transaction, JDL Gold has consolidated its share capital on a 6.45 for 1 basis, leaving the Company with approximately 36.9 million common shares issued and outstanding. This leaves former Gold Mountain shareholders with 29% ownership of JDL Gold.
Gold Mountain was a public resource company managed by an experienced team of professionals with a solid track record of exploration, development and operational success. The company owned 100% of the 16,700 hectare Elk Gold property.
JDL Gold (now Equinox Gold Corp.) is a Canadian mining company with a multi-million-ounce gold resource base, near-term and growing gold production from two past-producing mines in Brazil and California, and a long-term growth platform with a diverse portfolio of gold and copper assets in North and South America.
Further details on the Transaction can be found on Equinox Gold’s website. The company trades under the symbol “EQX” on the TSX Venture Exchange.