Equinox Gold Receives C$19.2 Million from Pacific Road Resources Funds
VANCOUVER, British Columbia, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Equinox Gold Corp. (TSX-V:EQX) (OTC:LWLCF) (“Equinox Gold” or the “Company”) announces that it has received C$19.2 million from Pacific Road Resources Funds (“Pacific Road”) and issued 21 million Equinox Gold common shares to Pacific Road pursuant to Pacific Road’s exercise of non-dilution rights, as previously announced on January 16, 2018. The shares are subject to a four-month hold period expiring on June 9, 2018. No finder’s fees or commissions were paid in connection with the share issuance.
The C$19.2 million is in addition to the approximately C$89.4 million (US$71.3 million) in cash and marketable securities that Equinox Gold had at December 31, 2017. Construction of Equinox Gold’s Aurizona Gold Mine in Brazil is fully funded with the Company’s existing treasury and a US$85 million secured project credit facility, of which US$15 million has already been drawn.
About Equinox Gold
Equinox Gold 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. Construction is underway at the Company’s Aurizona project in Brazil with the objective of pouring gold by year-end 2018, and a prefeasibility study is underway at the Company’s Castle Mountain project in California with the objective of restarting production. Further information about Equinox Gold’s current portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.
Equinox Gold Contacts
Christian Milau, CEO
Rhylin Bailie, Vice President Investor Relations
Tel: +1 604-558-0560
Email: ir@equinoxgold.com
Cautionary Notes and Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of the words “underway”, “objective”, “subject to” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this news release include, but are not limited to, statements regarding construction activities underway at Aurizona, anticipated production from the Aurizona Gold Mine and Castle Mountain Gold Mine, the Castle Mountain prefeasibility study, and the growth potential of the Company. Although the Company believes that the expectations reflected in such forward-looking statements and/or 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. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company’s periodic filings with Canadian securities regulators, and assumptions made with regard to the Company’s ability to complete construction at Aurizona and the timing to achieve production; the Company’s ability to complete construction within the approved budget; the Company’s ability to complete the Castle Mountain prefeasibility study and the results of the study; and the Company’s ability to achieve its expected growth and production potential. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.
