Equinox chairman Beaty to buy 10 million shares

2018-03-02 16:09 ET - News Release

An anonymous director reports

PACIFIC ROAD RESOURCES FUNDS ANNOUNCE INTENTION TO SELL COMMON SHARES OF EQUINOX GOLD

The Pacific Road Resources Funds have entered into arrangements to sell an aggregate of 22 million common shares in the capital of Equinox Gold Corp. pursuant to prearranged trades over the facilities of the TSX Venture Exchange. The common shares will be sold to a collection of purchasers, including Ross Beaty, chairman of the corporation, who intends to purchase 10 million of the shares. The shares will be sold at a price of $1.15 per common share, for aggregate consideration to PRRF of $25.3-million.

The 22 million shares represent approximately 4.9 per cent of the currently issued and outstanding common shares of the corporation. As a result of the sales, PRRF will hold an aggregate of 22,824,968 shares, representing approximately 5.1 per cent of the outstanding common shares. Assuming full exercise of PRRF's warrants to purchase 23,724,350 common shares, PRRF would hold an aggregate of 46,549,318 common shares, representing approximately 9.9 per cent of the then issued and outstanding common shares. PRRF intends to sell the shares for investment purposes and may or may not purchase or sell securities of the corporation, or exercise its warrants to purchase common shares, in the future on the open market or in private transactions, depending on market conditions and other factors. Depending on market conditions, general economic and industry conditions, the corporation's business and financial condition and/or other relevant factors, PRRF may develop other plans or intentions in the future.

A copy of the early warning report filed in connection with the investment will be available on the corporation's profile on SEDAR.

About Pacific Road Resources Funds and Pacific Road Capital Management Pty. Ltd.

The Pacific Road Resources Funds are private equity funds investing in the global mining industry. They provide expansion and buyout capital for mining projects, mining-related infrastructure and mining-services businesses located throughout resource-rich regions of the world.

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