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Copper and Uranium mine in S. Africa
Message: Announces Terms of Equity Offering
| April 7, 2009 |
| Equinox Announces Terms of Equity Offering |
| TORONTO, ONTARIO--(Marketwire - April 7, 2009) - NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. Equinox Minerals Limited (TSX:EQN)(ASX:EQN) ("Equinox" or the "Company") announced today that, in connection with its previously announced public offering, it has entered into an underwriting agreement with a syndicate of underwriters led by CIBC World Markets Inc. and Goldman Sachs Canada Inc., an affiliate of Goldman Sachs JBWere Pty Ltd., and including Cormark Securities Inc., GMP Securities L.P., Paradigm Capital Inc., Raymond James Inc., Macquarie Capital Markets Canada Ltd. and UBS Securities Canada Inc. (collectively, the "Underwriters") to sell 88,900,000 common shares of the Company (the "Shares") at a price of Cdn$1.80 per Share to raise gross proceeds of Cdn$160,020,000 (the "Offering"). The Shares are being offered by way of a short form prospectus in each of the provinces and territories of Canada, other than Quebec. CIBC World Markets Inc. and Goldman Sachs JBWere Pty Ltd. have been appointed joint book runners for the transaction. The Underwriters have also been granted an option to purchase up to an additional 13,335,000 Shares on the same terms and conditions as the Offering, exercisable at any time, in whole or in part, up to 30 days from the closing of the Offering (the "Over-Allotment Option"). If the Over-Allotment Option is exercised in full, the total gross proceeds to Equinox will be Cdn$184,023,000. Equinox intends to use the net proceeds of the Offering to strengthen its capital position, to evaluate and fund expansion opportunities at the Lumwana Project, to purchase and extinguish an existing net smelter return royalty in connection with the Lumwana Project, and for general corporate purposes. The Offering is scheduled to close on or about April 22, 2009 and is subject to certain customary conditions and regulatory approvals, including the approval of the Toronto Stock Exchange. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or any other jurisdiction outside of Canada, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Shares offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws. An amended and restated preliminary short form prospectus (the "preliminary prospectus") relating to the Offering will be filed today with securities commissions or similar authorities in each of the provinces and territories of Canada, other than Quebec. A copy of the preliminary prospectus will also be lodged with the Australian Securities Exchange. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained upon request without charge from CIBC World Markets Inc. and Goldman Sachs Canada Inc. A copy of the preliminary prospectus may also be obtained on SEDAR (www.sedar.com). There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued. Craig R. Williams - President & Chief Executive Officer For information on Equinox and technical details on the Lumwana Project please refer to the company website at www.equinoxminerals.com. |
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