Equinox Gold Completes $172.5 Million Convertible Senior Notes Bought Deal Offering All dollar amounts shown in United States dollars
Equinox Gold Completes $172.5 Million
Convertible Senior Notes Bought Deal Offering
All dollar amounts shown in United States dollars, unless otherwise indicated.
Vancouver, British Columbia--(Newsfile Corp. - September 21, 2023) - Equinox Gold Corp. (TSX: EQX)
(NYSE American: EQX) ("Equinox Gold" or the "Company") has closed its previously announced bought
deal offering of $172.5 million aggregate principal amount of 4.75% unsecured convertible senior notes
due 2028 (the "2028 Notes"), which includes exercise of the full amount of the option to purchase an
additional $22.5 million aggregate principal amount of Notes (the "Offering"). The conversion rate for the
2028 Notes is 158.7302 common shares of Equinox Gold ("Shares") per $1,000 principal amount of the
2028 Notes, equivalent to a conversion price of $6.30 per Share. The Company intends to use net
proceeds of the Offering for repayment of debt and for general corporate purposes.
Greg Smith, President & CEO of Equinox Gold, commented: "This debt financing enables us to pay
down part of our revolving credit facility, providing immediate interest savings while also positioning us to
manage the upcoming maturity of our April 2024 $140 million convertible notes. The new 2028 Notes
have a lower interest rate, substantially higher conversion price, no covenants and are unsecured, while
extending debt maturity to October 2028."
Equinox Gold Contacts
Greg Smith, President & Chief Executive Officer
Rhylin Bailie, Vice President Investor Relations
Tel: +1 604-558-0560
Email:
Cautionary Notes
This news release contains certain forward-looking information and forward-looking statements within
the meaning of applicable securities legislation. Forward-looking statements and forward-looking
information in this news release relate to, among other things: the anticipated use of proceeds of the
Offering and expectations regarding the Company's debt interest costs. Forward-looking statements or
information generally identified by words such as "will", "intends", "potentially", "ensure", "advance"
and similar expressions and phrases or statements that certain actions, events or results "may",
"could", or "should", or the negative connotation of such terms, are intended to identify forward-looking
statements and information. Although the Company believes that the expectations reflected in such
forward-looking statements and information are reasonable, undue reliance should not be placed on
forward-looking statements since the Company can give no assurance that such expectations will
prove to be correct.
The Company has based these forward-looking statements and information on the Company's current
expectations and projections about future events. While the Company considers these assumptions
to be reasonable based on information currently available, they may prove to be incorrect.
Accordingly, readers are cautioned not to put undue reliance on the forward-looking statements or
information contained in this news release.
The Company cautions that forward-looking statements and information involve known and unknown
risks, uncertainties and other factors that may cause actual results and developments to differ
materially from those expressed or implied by such forward-looking statements and information
contained in this news release and the Company has made assumptions and estimates based on or
related to many of these factors. Such factors include, without limitation, those factors identified in the
section titled "Risks and Uncertainties" in the Company's MD&A dated February 21, 2023 for the year
ended December 31, 2022, and in the section titled "Risks Related to the Business" in the
Company's most recently filed Annual Information Form, both of which are available on SEDAR+ at
www.sedarplus.ca
and on EDGAR at
www.sec.gov
/edgar
. Forward-looking statements and information
are designed to help readers understand management's views as of that time with respect to future
events and speak only as of the date they are made. Except as required by applicable law, the
Company assumes no obligation to update or to publicly announce the results of any change to any
forward-looking statement or information contained or incorporated by reference to reflect actual
results, future events or developments, changes in assumptions or changes in other factors affecting
the forward-looking statements and information. If the Company updates any one or more forward-
looking statements, no inference should be drawn that the Company will make additional updates with
respect to those or other forward-looking statements. All forward-looking statements and information
contained in this news release are expressly qualified in their entirety by this cautionary statement.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/181375