Equinox Gold Receives $145 Million from Exercise of Warrants all dollar figures in US dollars
TSX: EQX
NYSE-A: EQX
Suite 1501 - 700 West Pender St., Vancouver, BC Canada V6C 1G8
[email protected] +1 604.558.0560 www.equinoxgold.com
NEWS RELEASE
Equinox Gold Receives $145 Million from Exercise of Warrants
all dollar figures in US dollars
May 27, 2020 – Vancouver, BC – Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the
“Company”) reports that from April 1 to May 25, 2020 warrants held by various securityholders have been
exercised for net proceeds to Equinox Gold of approximate ly $145 million. The Company issued 21.4 million
common shares in relation to the exercise of the warrants and currently has 238.1 million common shares issued
and outstanding. As at May 26, 2020, the Company’s cash balance is more than $480 million.
Christian Milau, CEO of Equinox Gold, commented: “With a strong balance sheet and cash flow from a diversified
portfolio of producing gold mines, Equinox Gold is well positioned to manage the COVID -19 pandemic and is
fully funded to advance its pipeline of growth projects toward one million ounces of annual gold production.”
The Company intends to use proceeds from the warrant exercises to advance its development and expansion
projects, continue exploration, reduce debt, and for general corporate and working capital purposes.
About Equinox Gold
Equinox Gold is a Canadian mining company with six producing gold mines, a multi- million-ounce gold reserve
base and a clear path to achieve one million ounces of annual gold production from a pipeline of development
and expansion projects. Equinox Gold operates entirely in the Americas, with two properties in the United States,
one in Mexico and five in Brazil. Equinox Gold’s common shares are listed on the TSX and the NYSE American
under the trading symbol EQX. Further information about Equinox Gold’s por tfolio of assets and long -term
growth strategy is available at www.equinoxgold.com or by email at [email protected].
Equinox Gold Contacts
Christian Milau, Chief Executive Officer
Rhylin Bailie, Vice President, Investor Relations
Tel: +1 604-558-0560
Email: [email protected]
Cautionary Notes and Forward-Looking Statements
This news release contains certain forward -looking information and forward- looking statements within the meaning of
applicable securities legislation and may include future- oriented financial information. Forward- looking statements and
forward-looking infor mation in this news release relate to, among other things the Company’s financial position, the
strategic vision for the Company and expectations regarding the Company’s growth potential. Forward-looking statements
or information generally identified by the use of the words “will ”, “advance”, “toward”, “clear path”, “intends”, “growth”
and similar expressions and phrases or statements that certain actions, events or results “may”, “could”, “should”, “will be
taken” or “be achieved”, or the negative connotat ion 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
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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 and these assumptions include: the
Company’s ability to continue operating its mines as expected and to achieve its production and cash flow projections; prices
for gold remaining as estimated; development at Los Filos, Castle Mountain, Santa Luz and Aurizona being completed and
performed in accordance with current expectations; currency exchange rates remaining as estimated; availability of funds
for the Company’s projects , to reduce debt and future cash requirements; the results of exploration programs; prices for
energy inputs, labour, materials, supplies and services; no labour -related disruptions and no unplanned delays or
interruptions in scheduled development and production; all necessary permits, licenses and regulatory approvals being
received in a timely manner; and the Company’s ability to comply with environmental, health and safety laws. The
Company’s exploration, development, operating and growth plans do not account for any possible adverse effects of COVID-
19 to the Company’s business and results of operations. 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 news release materially from those expressed or
implied by such forward-looking statements and information contained in this and the Company has made assumptions and
estimates based on or related to many of these factors. Such factors include, without limitation: f luctuations in gold prices;
fluctuations in prices for energy inputs, labour, materials, supplies and services; fluctuations in currency markets; operational
risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents,
equipment breakdown, unusual or unexpected geological or structural formations, cave- ins, flooding and severe weather);
inadequate insurance, or inability to obtain insurance to cover these risks and hazards; employee relations; relationships
with, and claims by, local communities and indigenous populations; the Company’s ability to obtain all necessary permits,
licenses and regulatory approvals in a timely manner or at all; changes in laws, regulations and government practices,
including environmental, export and import laws and regulations; legal restrictions relating to mining including those
imposed in connection with COVID -19; risks relating to expropriation; increased competition in the mining industry; and
those factors identified in the Company’s MD&A dated February 28, 2020 for the year -ended December 31, 2019 and its
Annual Information Form dated May 1 3, 2020, which are available on SEDAR at www.sedar.com 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 and does not intend 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 additio nal 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.