Equinox Minerals Limited

Equinox Minerals Limited

April 22, 2009 08:46 ET

Equinox Announces Completion of Equity Offering

TORONTO, ONTARIO--(Marketwire - April 22, 2009) -


Equinox Minerals Limited (TSX:EQN)(ASX:EQN) ("Equinox" or the "Company") announced today that it has completed its previously announced public offering, including the share issuance pursuant to the related over-allotment option which was exercised in full, and has issued a total of 102,235,000 common shares of the Company (the "Shares") at a price of Cdn$1.80 per Share for gross proceeds of Cdn$184,023,000 (the "Offering").

The syndicate of underwriters for the Offering was led by CIBC World Markets Inc. and Goldman Sachs Canada Inc., an affiliate of Goldman Sachs JBWere Pty Ltd., and included Cormark Securities Inc., GMP Securities L.P., Paradigm Capital Inc., Raymond James Ltd., Macquarie Capital Markets Canada Ltd. and UBS Securities Canada Inc. (collectively, the "Underwriters"). CIBC World Markets Inc. and Goldman Sachs JBWere Pty Ltd. were the joint book runners for the transaction.

Equinox intends to use the net proceeds of the Offering to improve its cash 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 share issuance included Shares issued in the form of CHESS Depository Interests which are used to settle transactions electronically on the ASX. Equinox hereby gives the ASX notice pursuant to Section 708A(5)(e) of the Corporations Act (Australia) that the Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act, in reliance on Section 708A(5)(e) of the Corporations Act. The Company, as at the date of this notice, has complied with: (a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and (b) section 674 of the Corporations Act. There is no excluded information for the purposes of Sections 708A(7) and (8) of the Corporations Act.

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.

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.

Cautionary Language and Forward Looking Statements

This press release contains "forward-looking statements" and "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performances of Equinox, its subsidiaries and their respective projects, the future price of copper and uranium, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, estimated costs of future production, the sale of future production and the performance of off-takers, capital, operating and exploration expenditures, costs and timing of the development of the Lumwana Project, the costs of Equinox's hedging policy, costs and timing of future exploration, requirements for additional capital, government regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, and limitations of insurance coverage. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "is expecting", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes", or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved.

The purpose of forward-looking information is to provide the reader with information about management's expectations and plans for 2009. Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Equinox and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, those factors discussed in the section entitled "Risk Factors" in the Company's Annual Information Form. Although Equinox has attempted to identify statements containing important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this document based on the opinions and estimates of management on the date statements containing such forward looking information are made, and Equinox disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward looking information.

Contact Information