• Equinox Gold (EQX) has announced a private placement offering of i-80 Gold units owned by Equinox for gross proceeds to Equinox Gold of C$32,016,000
  • A syndicate of underwriters has agreed to purchase 11,600,000 units of i-80 Gold (TSX:EQX) at a price of C$2.76 per unit
  • The offering is expected to close on March 28, 2023
  • Equinox Gold is a growth-focused mining company with projects in Canada, the USA, Mexico and Brazil.
  • Equinox Gold Corp. (EQX) opened trading at C$4.84

Equinox Gold (EQX) has announced a private placement offering of i-80 Gold units owned by Equinox for gross proceeds to Equinox Gold of C$32,016,000.

A syndicate of underwriters has agreed to purchase 11,600,000 units of i-80 Gold (TSX:IAU) at a price of C$2.76 per unit. Each unit consists of one common share of i-80 Gold Corp. and one-half of one common share purchase warrant of i-80 Gold. Each whole warrant is exercisable to purchase one additional common share of i-80 Gold owned by Equinox Gold at a price of C$3.45 per share for a period of 12 months following the closing of the offering.

In the event all warrants are exercised, the total gross proceeds to Equinox Gold would be C$52,026,000.

All securities issued will be subject to a statutory four-month hold period.

Prior to the offering, Equinox Gold and its affiliates owned 60,841,282 common shares of i-80 Gold. If all of the warrants are exercised, Equinox Gold and its affiliates will own 43,441,282 common shares of i-80 Gold, representing approximately 17.6 per cent of the company’s shares.

The offering is expected to close on March 28, 2023. i-80 Gold will not receive any proceeds from the offering.

Equinox Gold remains a shareholder of i-80 Gold and does not currently plan to make any additional changes to its stake in the company.

Equinox Gold is a growth-focused mining company with projects in Canada, the USA, Mexico and Brazil. 

Equinox Gold Corp. (EQX) opened trading at C$4.84.


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