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Equinox Gold Releases Fiscal 2017 Financial Results, Appoints General CounselDownload PDF
Equinox Gold Corp. (TSX-V: EQX, OTC: LWLCF) (“Equinox Gold” or “the Company”) has released its audited consolidated financial statements (“Annual Financial Statements”) for the fiscal year ended December 31, 2017. The Annual Financial Statements and accompanying Management’s Discussion and Analysis are available for download on the Company’s website at www.equinoxgold.com and on SEDAR at www.sedar.com.
Christian Milau, Chief Executive Officer, commented, “Fiscal 2017 was a year of significant change and growth for the Company. During 2017 we completed two major transactions, acquiring the Aurizona Gold Mine in Brazil through the merger with Luna Gold in March and acquiring NewCastle Gold and Anfield Gold in December to add the Castle Mountain Gold Mine in California to our production pipeline and expand the Company’s treasury. We also permitted, financed and initiated construction at Aurizona, executed successful exploration programs at both Aurizona and Castle Mountain and welcomed Ross Beaty to the team as Chairman of the Board of Directors.”
Mr. Milau continued, “The next 12 months will be equally transformative as we advance Aurizona through construction and into production, and we remain on track to pour gold by the end of 2018 with the expectation of producing on average 136,000 ounces of gold per year. We will also complete a prefeasibility study at Castle Mountain in mid-2018 with the objective of designing a robust, long-life mine capable of producing approximately 200,000 ounces of gold annually.”
Appointment of General Counsel
Effective April 4, 2018, Equinox Gold is pleased to welcome Susan Toews as General Counsel. Ms. Toews previously worked at New Gold Inc. for approximately 10 years as Vice-President Legal Affairs, Corporate Secretary and as a consultant providing project support. She has over 20 years of legal and business experience in a combination of in-house, regulatory and private practice roles with knowledge of mining in North and South America, as well as Australia. She holds a Bachelor of Arts (Honours) from the University of Victoria, a Bachelor of Laws from the University of Saskatchewan and has been a member of the Law Society of British Columbia since 1994.
Award of Share-based Compensation
Pursuant to the Company’s stock option plan, Equinox Gold has granted incentive stock options to certain directors that are exercisable and issuable for up to 349,760 common shares in the Company. The stock options are exercisable at C$1.12 per share with a five-year term, with 50% vesting on March 29, 2019 and 50% vesting on March 29, 2020.
On behalf of the Board of Equinox Gold Corp.
CEO & Director
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 “will”, “advance”, “objective”, “expectation”, “underway” 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 Aurizona construction and production progress, timing of gold pour at Aurizona, timing of completion of the Castle Mountain prefeasibility study, as well as future gold production volumes. 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, the timing to achieve production and the Company’s ability to achieve the expected production levels at Aurizona; the Company’s ability to complete the Castle Mountain prefeasibility study, the results of the study and the ability to achieve the desired production levels; 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.