Equinox Gold Announces Sale of Solaris Resources Shares for C$70.4 Million
December 6, 2022
Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) announces that it has sold an aggregate 11,000,000 common shares of Solaris Resources Inc. (TSX: SLS) (“Solaris”) in the ordinary course for investment purposes through the facilities of the Toronto Stock Exchange through block trades (the “Transaction“) for aggregate gross proceeds of C$70.4 million.
Equinox Gold will be filing an early warning report under National Instrument 62-103 in connection with the sale of the Solaris shares, a copy of which will be available under Solaris’ profile on SEDAR at www.sedar.com.
Immediately prior to the Transaction, Equinox Gold owned 15,545,487 common shares of Solaris and warrants entitling Equinox Gold to purchase 7,500,000 common shares of Solaris representing approximately 17.88% of Solaris on a partially diluted basis. As a result of the Transaction, including any exercise of the warrants, Equinox Gold’s ownership has decreased to less than 10% of the issued and outstanding common shares of Solaris and Equinox Gold has ceased to be a “reporting insider” as defined in National Instrument 55-104 – Insider Reporting Requirements. Accordingly, Equinox Gold will no longer file insider or early warning reports in respect of its ownership of securities of Solaris, except as required by applicable law.
Equinox Gold remains a supportive shareholder of Solaris and does not currently plan to make any additional changes to its interest. Pursuant to the Transaction, Equinox Gold has agreed not to sell any of its remaining Solaris securities for 120 days.
Equinox Gold Contacts
Greg Smith, President and Chief Executive Officer
Rhylin Bailie, Vice President, Investor Relations
Tel: +1 604-558-0560