VANCOUVER, British Columbia, Dec. 23, 2021 (GLOBE NEWSWIRE) -- Ross J. Beaty, of 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced that on December 23, 2021, he acquired ownership of 470,000 common shares (the “Common Shares”) of Equinox Gold Corp. (“Equinox”), a company with a head office at Suite 1501- 700 West Pender Street, Vancouver, British Columbia, V6C 1G8. Mr. Beaty acquired ownership through the exercise (the “pRSU Exercise”) of 292,000 restricted share units with performance-based vesting conditions (“pRSUs”).
Prior to the pRSU Exercise, Mr. Beaty owned, directly or indirectly, or exercised control or direction over 23,159,270 Common Shares and 19,069 restricted share units (“RSUs”) each RSU entitling the holder to purchase one Common Share. Mr. Beaty also held 800,000 pRSUs to be settled in Common Shares if certain performance criteria are met. The pRSUs vested in four separate tranches based on Equinox’s Common Share price performance and contained performance multipliers ranging from 1x to 3x, depending on the Common Share price achieved. The performance multipliers provide for a total of up to 1,880,000 Common Shares to be issued if all price thresholds are achieved, however if these thresholds are not achieved, no Common Shares will be issued. Immediately prior to the pRSU Exercise, (i) all 800,000 pRSUs had vested, entitling Mr. Beaty to 1,880,000 Common Shares, none of which had been issued; and (ii) 9,534 RSUs had vested or will vest within 30 days of this report, entitling Mr. Beaty to 9,534 Common Shares, none of which had been issued.
The 23,159,270 Common Shares represented approximately 7.70% of the total number of issued and outstanding Common Shares prior to the pRSU Exercise. If all of the vested RSUs and pRSUs were exercised, Mr. Beaty would have owned, directly or indirectly, or exercised control or direction over, approximately 8.28% of the total number of issued and outstanding Common Shares, on a partially diluted basis.
Immediately following the pRSU Exercise, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 23,629,270 Common Shares. The 23,629,270 Common Shares represent approximately 7.85% of the total number of issued and outstanding Common Shares, resulting in an increase of 0.15% to Mr. Beaty’s Common Share holdings after the completion of the pRSU Exercise. If all of the vested RSUs and pRSUs were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 8.28% of the total number of issued and outstanding Common Shares, resulting in a change of 0.00% on a partially diluted basis.
Mr. Beaty’s acquisition was made for investment purposes. In accordance with applicable securities laws, Mr. Beaty may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of Equinox in the open market or otherwise, and reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Equinox and other relevant factors.
For more information, or to obtain a copy of the subject early warning report, please contact:
Ross J. Beaty
1550 – 625 Howe Street
Vancouver, British Columbia
V6C 2T6
Telephone: (604) 806-3173
Facsimile: (604) 684-0147
