Equinox Gold Announces Results from Adjourned Annual & Special Meeting of Shareholders: Shareholders Approve Business Combination with Calibre Mining
Equinox Gold (NYSE: EQX) shareholders have approved all matters at their annual and special meeting, including the crucial share issuance resolution for the business combination with Calibre Mining. The transaction received 85.87% approval for issuing up to 296,838,303 common shares. Calibre securityholders also approved the merger at their meeting. The deal awaits final court approval from the Supreme Court of British Columbia (hearing expected May 6, 2025) and Mexican competition authorization. With Canadian regulatory approval already secured, the transaction is expected to close by the end of Q2 2025.
The meeting saw strong participation with 69.56% of outstanding shares represented. Shareholders also approved the election of eight directors, reappointed KPMG LLP as auditor, amended the restricted share unit plan, and endorsed the company's executive compensation approach.
Gli azionisti di Equinox Gold (NYSE: EQX) hanno approvato tutte le questioni all'ordine del giorno durante l'assemblea annuale e straordinaria, inclusa la fondamentale delibera sull'emissione di azioni per la fusione con Calibre Mining. La transazione ha ottenuto l'85,87% di voti favorevoli per l'emissione fino a 296.838.303 azioni ordinarie. Anche i detentori di titoli Calibre hanno approvato la fusione nella loro assemblea. L'accordo è in attesa dell'approvazione finale della Corte Suprema della Columbia Britannica (udienza prevista per il 6 maggio 2025) e dell'autorizzazione per la concorrenza in Messico. Con l'approvazione regolatoria canadese già ottenuta, si prevede che la transazione si concluda entro la fine del secondo trimestre del 2025.
L'assemblea ha registrato una forte partecipazione, con il 69,56% delle azioni in circolazione rappresentate. Gli azionisti hanno inoltre approvato l'elezione di otto amministratori, la riconferma di KPMG LLP come revisore dei conti, la modifica del piano di unità azionarie vincolate e hanno sostenuto l'approccio della società alla remunerazione esecutiva.
Los accionistas de Equinox Gold (NYSE: EQX) aprobaron todos los puntos en la reunión anual y extraordinaria, incluida la crucial resolución para la emisión de acciones relacionada con la combinación empresarial con Calibre Mining. La transacción recibió un 85,87% de aprobación para emitir hasta 296.838.303 acciones ordinarias. Los titulares de valores de Calibre también aprobaron la fusión en su reunión. El acuerdo está pendiente de la aprobación final del Tribunal Supremo de Columbia Británica (audiencia prevista para el 6 de mayo de 2025) y la autorización de competencia en México. Con la aprobación regulatoria canadiense ya asegurada, se espera que la transacción se cierre antes de finalizar el segundo trimestre de 2025.
La reunión contó con una alta participación, representando el 69,56% de las acciones en circulación. Los accionistas también aprobaron la elección de ocho directores, la reelección de KPMG LLP como auditor, la enmienda del plan de unidades restringidas de acciones y respaldaron el enfoque de compensación ejecutiva de la compañía.
Equinox Gold (NYSE: EQX) 주주들은 연례 및 특별 총회에서 모든 안건을 승인했으며, 여기에는 Calibre Mining과의 사업 결합을 위한 중요한 주식 발행 결의안도 포함되었습니다. 이번 거래는 최대 296,838,303 보통주 발행에 대해 85.87%의 찬성을 받았습니다. Calibre의 증권 보유자들도 그들의 총회에서 합병을 승인했습니다. 이 거래는 현재 브리티시컬럼비아 대법원의 최종 법원 승인(2025년 5월 6일 심리 예정)과 멕시코 경쟁 당국의 승인을 기다리고 있습니다. 캐나다 규제 승인은 이미 확보되어 있어, 거래는 2025년 2분기 말까지 완료될 것으로 예상됩니다.
총회에는 전체 발행 주식의 69.56%가 참석하여 높은 참여율을 보였습니다. 주주들은 또한 8명의 이사 선임, KPMG LLP의 감사 재선임, 제한 주식 단위 계획 수정, 그리고 회사의 경영진 보상 방침을 승인했습니다.
Les actionnaires d'Equinox Gold (NYSE : EQX) ont approuvé tous les points à l'ordre du jour lors de leur assemblée annuelle et extraordinaire, y compris la résolution cruciale d'émission d'actions pour la fusion avec Calibre Mining. La transaction a obtenu 85,87 % d'approbation pour l'émission pouvant aller jusqu'à 296 838 303 actions ordinaires. Les détenteurs de titres de Calibre ont également approuvé la fusion lors de leur assemblée. L'accord est en attente de l'approbation finale de la Cour suprême de la Colombie-Britannique (audience prévue le 6 mai 2025) et de l'autorisation de la concurrence au Mexique. Avec l'approbation réglementaire canadienne déjà obtenue, la transaction devrait se conclure d'ici la fin du deuxième trimestre 2025.
L'assemblée a enregistré une forte participation avec 69,56 % des actions en circulation représentées. Les actionnaires ont également approuvé l'élection de huit administrateurs, la reconduction de KPMG LLP en tant qu'auditeur, la modification du plan d'unités d'actions restreintes et ont soutenu la politique de rémunération des dirigeants de la société.
Die Aktionäre von Equinox Gold (NYSE: EQX) haben auf ihrer jährlichen und außerordentlichen Hauptversammlung alle Punkte genehmigt, einschließlich der wichtigen Beschlussfassung zur Aktienausgabe im Rahmen der Unternehmenszusammenführung mit Calibre Mining. Die Transaktion erhielt eine Zustimmung von 85,87 % für die Ausgabe von bis zu 296.838.303 Stammaktien. Auch die Wertpapierinhaber von Calibre stimmten der Fusion auf ihrer Versammlung zu. Der Deal steht noch unter dem Vorbehalt der endgültigen gerichtlichen Genehmigung durch den Obersten Gerichtshof von British Columbia (Anhörung erwartet am 6. Mai 2025) sowie der Genehmigung durch die mexikanische Wettbewerbsbehörde. Die kanadische regulatorische Zustimmung liegt bereits vor, sodass der Abschluss der Transaktion bis Ende Q2 2025 erwartet wird.
Die Versammlung verzeichnete eine hohe Beteiligung mit 69,56 % der ausstehenden Aktien. Die Aktionäre stimmten außerdem der Wahl von acht Direktoren zu, bestätigten die Wiederbestellung von KPMG LLP als Prüfer, änderten den Restricted Share Unit Plan und unterstützten den Vergütungsansatz des Unternehmens für Führungskräfte.
- High shareholder approval (85.87%) for the business combination with Calibre Mining
- Canadian regulatory approval already obtained
- Strong shareholder participation with 69.56% of shares represented at the meeting
- Clear timeline for transaction completion by Q2 2025
- Transaction still requires Mexican competition authorization
- Final court approval pending
- Significant share dilution with issuance of up to 296.8M new shares
Insights
Shareholders overwhelmingly approved Equinox Gold's merger with Calibre Mining, authorizing issuance of up to 296.8 million shares, with expected closing by end of Q2 2025.
Equinox Gold has secured a critical milestone in its business combination with Calibre Mining, with
The scale of this share issuance is significant relative to Equinox's current capital structure. With
While this shareholder approval represents an important step forward, several conditions remain before the transaction can close:
- Final court approval from the Supreme Court of British Columbia (expected May 6, 2025)
- Mexican competition authorization (Canadian approval already received)
- Listing approval for the new Equinox shares on both the TSX and NYSE American
- Satisfaction of other customary closing conditions
The projected timeline targeting completion by the end of Q2 2025 appears reasonable, assuming regulatory approvals proceed without complications. Notably, Calibre shareholders have also approved the transaction at their meeting, aligning all shareholder interests toward completion.
The high approval percentages across all voting matters—
Vancouver, British Columbia--(Newsfile Corp. - May 1, 2025) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") is pleased to announce that Equinox Gold shareholders approved all matters voted on at the annual and special meeting of shareholders held earlier today, including the share issuance resolution in connection with the proposed business combination (the "Transaction") with Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) ("Calibre"), election of management's director nominees, the appointment of KPMG LLP as the Company's independent auditor, and acceptance of the Company's approach to executive compensation.
Anticipated Timeline for Completion of the Transaction
Calibre securityholders also approved the Transaction at their meeting held earlier today. With approval by Equinox Gold shareholders and Calibre securityholders in hand, Calibre will seek a final order from the Supreme Court of British Columbia to approve the Arrangement at a hearing expected to be held on May 6, 2025. In addition to court approvals, the Transaction is subject to applicable regulatory approvals, including both Canadian (received) and Mexican competition authorization, approval of the listing of the Equinox Gold common shares to be issued under the Transaction on the Toronto Stock Exchange and NYSE American Exchange, and the satisfaction of certain other closing conditions customary for a transaction of this nature. If all conditions are satisfied or waived, the Transaction is expected to close by the end of Q2 2025.
Voting Results
Each of the matters voted on at the meeting are described in detail in the Company's Management Information Circular dated March 21, 2025, which is available on the Company's website at www.equinoxgold.com. A total of 317,252,212 common shares were represented at the meeting, being
Share Issuance Resolution
| Resolution | Votes For | Votes Against |
| To approve the issuance of up to 296,838,303 common shares of the Company in connection with the acquisition by the Company of all the outstanding common shares of Calibre | 248,106,211 ( | 40,830,082 ( |
Board Size
| Resolution | Votes For | Votes Against |
| To set the number of directors of the Company at eight | 316,344,645 ( | 907,366 ( |
Election of Directors
| Director Nominee | Votes For | Votes Withheld |
| Mr. Ross Beaty - Chair | 264,416,155 ( | 24,520,138 ( |
| Mr. Lenard Boggio - Lead Director | 260,189,454 ( | 28,746,839 ( |
| Ms. Maryse Bélanger | 264,541,608 ( | 24,394,685 ( |
| Mr. Gordon Campbell | 264,609,122 ( | 24,327,171 ( |
| Ms. Trudy Curran | 264,173,284 ( | 24,763,009 ( |
| Dr. Sally Eyre | 253,309,671 ( | 35,626,622 ( |
| Mr. Marshall Koval | 264,218,992 ( | 24,717,301 ( |
| Mr. Greg Smith | 264,814,638 ( | 24,121,655 ( |
Appointment of Independent Auditor
| Resolution | Votes For | Votes Withheld |
| Re-appointment of KPMG LLP as auditor of the Company for the ensuing year, and authorizing the Board of Directors to set the auditor's pay | 315,754,677 ( | 1,497,332 ( |
Amendment of the Company's Restricted Share Unit Plan
| Resolution | Votes For | Votes Against |
| To approve the amendment of the Company's restricted share unit plan | 219,274,990 ( | 69,661,302 ( |
Advisory Resolution on Executive Compensation
| Resolution | Votes For | Votes Against |
| A non-binding advisory resolution approving the Company's approach to executive compensation | 282,318,906 ( | 6,617,387 ( |
Equinox Gold Contacts
Greg Smith, President and Chief Executive Officer
Rhylin Bailie, Vice President, Investor Relations
Tel: +1 604-558-0560
Email: ir@equinoxgold.com
Cautionary Notes & Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively "Forward-looking Information"). All statements other than statements of historical fact may be Forward-looking Information. Forward-looking Information in this news release relates to, among other things: statements about the Company's ability to complete the conditions required to close the Transaction; and the timing for closing of the Transaction. Actual results and outcomes may vary from the information set out in any Forward-looking Information.
Forward-looking Information is generally identified by the use of words like "will", "anticipate", "expect", and similar expressions and phrases or statements that certain actions, events or results "may", "could", or "should", or the negative connotation of such terms, are intended to identify Forward-looking Information. Although Equinox Gold believes the expectations reflected in the Forward-looking Information are reasonable, undue reliance should not be placed on Forward-looking Information since no assurance can be provided that such expectations will prove to be correct. Forward-looking Information is based on information available at the time those statements are made and/or good faith belief of the officers and directors of Equinox Gold as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the Forward-looking Information. Forward-looking Information involves numerous risks and uncertainties. Such factors include, without limitation: risks related to closing of the Transaction; the ability to achieve the anticipated benefits of the Transaction; risks relating to changes in the gold price; risks related to Canadian and United States sanctions on Nicaraguan operations; risks related to the financial impact that tariffs; risks related to new members of management and the board of the combined company; risks related to completion of the Valentine Gold Mine and achieving production and design capacity in accordance with expectations; risks related to achieving design capacity at Greenstone in accordance with expectations; the ability to work successfully with First Nations and Indigenous partners and local communities; and the factors identified in the section titled "Risks Related to the Business" in Equinox Gold's most recently filed Annual Information Form, and in the section "Risk Factors" in Equinox Gold's Management Information Circular dated March 21, 2025, both of which are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar, and in the section titled "Risk Factors" in Calibre's most recently filed Annual Information Form which is available on SEDAR+ at www.sedarplus.ca. Forward-looking Information is designed to help readers understand Equinox Gold's views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, Equinox Gold assumes no obligation to update or to publicly announce the results of any change to any Forward-looking Information contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the Forward-looking Information. If Equinox Gold updates any one or more forward-looking statements, no inference should be drawn that Equinox Gold will make additional updates with respect to those or other Forward-looking Information. All Forward-looking Information contained in this news release is expressly qualified in its entirety by this cautionary statement.
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FAQ
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