Equinox Gold Sells C$130 Million Versamet Stake, Cuts Ownership to 2.7%
EQX•Equinox Gold sold 8,713,000 Versamet Royalties shares in a block trade for C$130 million, reducing its stake from 10.7% to 2.7% of undiluted shares. Following the sale, Equinox Gold’s rights of first offer and investor rights agreement with Versamet terminate, and it is no longer subject to early warning reporting.
1. Transaction Details
Equinox Gold completed a block trade selling 8,713,000 common shares of Versamet Royalties for aggregate gross proceeds of C$130 million, lowering its beneficial ownership from approximately 10.7% to 2.7% on an undiluted basis.
2. Rights and Reporting Implications
As a result of the sale, Versamet’s right of first offer to acquire royalties held by Equinox Gold is terminated and the investor rights agreement automatically ends once ownership remains below 10.0% for 30 days, releasing Equinox from early warning and insider reporting.
3. Future Investment Strategy
Equinox Gold retains the remaining Versamet shares for investment purposes and reserves the option to acquire or dispose of additional securities subject to escrow restrictions based on future corporate objectives and market conditions.
