ABU
DHABI, United Arab Emirates, April 1,
2024 /CNW/ - MDC Industry Holding Company
LLC ("MDCI"), a wholly-owned subsidiary of Mubadala
Investment Company PJSC, announced today that it has entered,
on March 29, 2024, into an amending agreement with Equinox
Gold Corp. (TSX: EQX, NYSE American: EQX) ("Equinox
Gold") (the "2020 Notes Amending Transaction")
pursuant to which the terms of the US$130,000,000 in convertible notes issued by
Equinox Gold to MDCI on March 10,
2020 (the "2020 Notes") have been amended to,
among other things, reduce the price at which the 2020 Notes are
convertible into common shares in the capital of Equinox
Gold ("Common Shares") from US$7.80 to US$6.50.
MDCI previously filed an early warning report dated April 12, 2019 (the "Initial Report") with
respect to its acquisition of US$130,000,000 of notes (the "2019 Notes")
convertible into Common Shares, which entitled MDCI to Common
Shares representing approximately 18.3% of the then issued and
outstanding Common Shares on a partially-diluted basis. It then
filed an early warning report on December
18, 2019 to describe a change in a material fact contained
in the Initial Report, namely that MDCI intended to subscribe for
the 2020 Notes. MDCI subsequently acquired the 2020 Notes. That
transaction, combined with an increase in the aggregate number of
issued and outstanding Common Shares since the date of the Initial
Report, has resulted in a net percentage decrease of MDCI's
beneficial ownership of Common Shares since its acquisition of the
2019 Notes (assuming the full conversion of the 2019 Notes and the
2020 Notes).
If converted in full immediately prior to the 2020 Notes
Amending Transaction, the 2019 Notes and the 2020 Notes together
would have entitled MDCI to acquire 41,428,572 Common Shares,
representing approximately 11.69% of the Common Shares issued and
outstanding on a partially-diluted basis prior to the 2020 Notes
Amending Transaction.
If converted in full immediately after the 2020 Notes Amending
Transaction, the 2019 Notes and the 2020 Notes together entitle
MDCI to acquire 44,761,905 Common Shares, representing
approximately 12.51% of the Common Shares issued and outstanding on
a partially-diluted basis.
MDCI acquired and holds the 2019 Notes and the 2020 Notes
(collectively, the "Notes") for investment purposes. It may
elect to convert some or all of the Notes into Common Shares in
accordance with their terms, and may, in accordance with applicable
securities laws, increase or decrease its investment by future
acquisitions or dispositions of Notes, Common Shares or other
equity, debt or other securities of Equinox Gold in the open
market, through private agreement or treasury issuances or
otherwise, depending on market conditions, the business and
prospects of Equinox Gold and other relevant factors.
The head office of Equinox Gold is located at Suite 1501, 700
West Pender St. Vancouver, British
Columbia, Canada, V6C 1G8.
This news release is issued in accordance with the early warning
requirements under applicable Canadian securities laws. An early
warning report relating to the 2020 Notes Amending
Transaction will be filed by MDCI with applicable securities
regulators and will be available for viewing under Equinox Gold's
SEDAR+ profile at www.sedarplus.com. A copy of the early warning
report may be obtained by contacting Andre
Namphy at the contact information provided below.
SOURCE MDC Industry Holding Company LLC
