Share & Warrant Information
Equinox Gold’s common shares are listed on the Toronto Stock Exchange and on the NYSE American Exchange under the symbol "EQX". Equinox Gold also has a number of warrants outstanding, as outlined below. Equinox Gold’s October 6, 2021 warrants are listed on the TSX as EQX.WT and also trade on the OTC Pink Sheets as EQXWF.
Warrants give you the right to buy shares of Equinox Gold at a set price (the exercise price) until a certain future date (the expiry date).
As the result of previous corporate transactions and share consolidations, the spin-out of Solaris Resources (TSX: SLS) in August 2018, Equinox Gold’s 5:1 share consolidation in August 2019 and Solaris’ 2:1 share consolidation in May 2020, each consolidated warrant now exercises into 0.20 shares of EQX and 0.05 shares of SLS.
When determing the "in-the-money" exercise price for the warrants, all of these corporate transactions and the Solaris shares issued upon exercise must be considered, since the intrinsic value of the Solaris shares effectively lowers the in-the-money price of the warrants.
The table below shows the consolidated exercise price of each tranche of warrants, when taking into consideration all corporate transactions and consolidations to date, and provides infomation regarding the effective exercise price of the warrants after accounting for the intrinsic value of the Solaris shares issued upon exercise. If the in-the-money price is lower than the current Equinox Gold share price, that means the market value of the EQX plus SLS shares you are buying is worth more than the consolidated exercise price. Please note that if you choose to exercise your warrants, you will need to pay the exercise price (not the in-the-money price) and in return will receive your shares of EQX and SLS.
Questions regarding warrants and shares can be directed to Ms. Rhylin Bailie at ir@equinoxgold.com. Warrantholders are urged to consult their own legal, tax and financial advisors in regards to their particular circumstances when deciding whether to exercise their warrants.
Equinox Gold Warrant Calculator
| Expiry Date | Oct 6, 2021 | Jan 24, 2022 | Mar 31, 2022 | Dec 19, 2022 | May 7, 2023 |
| Warrant Exercise Price | C$15.00 | C$11.03 | C$10.80 | C$5.05 | C$5.30 |
| Solaris Shares Issued on Exercise | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
| Current SLS Share Price | C$11.68 | C$11.68 | C$11.68 | C$11.68 | C$11.68 |
| Value of Fractional SLS Shares | C$2.92 | C$2.92 | C$2.92 | C$2.92 | C$2.92 |
| “In-the-Money” Price | C$12.08 | C$8.11 | C$7.88 | C$2.13 | C$2.38 |
Investors who purchased their warrants in the market rather than through a private placement should also consider the initial purchase price of the warrants.
Residents of the United States should be aware that if you purchased warrants in one of Equinox Gold’s previous private placements (this does not apply if you purchased them in the open market, only if purchased in a private placement), the warrants have a legend on them and cannot be sold until the legend is removed. Likewise, the shares issued to you upon exercise of the warrants will come with a legend restriction that must be removed before the shares can be sold. Please see "How can I get the legend removed from my shares and warrants?" in the Online Q&A on this website for more information about legend restrictions. If you have held your warrants for more than one year, you can likely get the legend removed without involving your broker or US legal counsel. Please contact EQX Investor Relations at ir@equinoxgold.com for more information.
Warrants must be exercised through Equinox Gold’s transfer agent, Computershare Investor Services Inc. Contact Computershare for more information at:
Toll Free: +1-800-564-6253
International: +1 514-982-7555
Email: service@computershare.com
Online: www.computershare.com/service
Hours of operation: 8:30am - 8:00pm ET, Monday to Friday
At June 30, 2021, Equinox Gold had the following securities issued and outstanding:
| 300.4 M Issued common shares |
18.2 M Shares issuable from warrants |
6.2 M Options and RSUs |
369.3 M Fully diluted shares * |
The fully diluted share count assumes full conversion of in-the-money convertible notes, held primarily by Mubadala Investment Company, of which US$139.7 M are convertible at US$5.25 per share and US$139.3 M are convertible at US$7.80 per share. If both notes were fully converted, Equinox Gold would issue 44.5 M shares.
TSX:EQX |
NYSE-A:EQX |
|
TSX:EQX.WT |
OTC:EQXWF |
Shareholder Base
Broad mix of institutional, high-net-worth and retail shareholders
Equinox Gold has a broad shareholder base with strategic long-term shareholders and a balanced mix of institutional, high-net-worth and retail investors. Equinox Gold’s Chairman, Ross Beaty, has invested more than US$120 million since November 2017 to become the Company’s largest shareholder. Collectively, Equinox Gold’s executives and directors have personally invested to hold more than 8% of the Company - one of the highest insider ownership rates in the industry - ensuring the interests of investors and Equinox Gold’s leadership team are aligned.