Equinox Gold (TSX: EQX, NYSE American: EQX) sold 8,713,000 Versamet Royalties shares via block trade for C$130 million, reducing its stake from 10.7% to 2.7% (2,904,915 shares).
Versamet’s right of first offer on Equinox Gold royalties ends, and related investor rights and reporting obligations will terminate.
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Positive
C$130 million gross proceeds from sale of 8,713,000 Versamet shares
Equinox Gold stake reduced below 10%, ending early warning and insider reporting
Potentially greater flexibility over future royalty and stream transactions
Negative
Equinox Gold ownership in Versamet cut from 10.7% to 2.7%
Termination of Versamet right of first offer may alter royalty deal pipeline
Loss of investor rights once ownership below 10% for 30 days
News Market Reaction – EQX
-4.85%
8 alerts
-4.85%Session close to close
-2.2%Trough in 4 hr 55 min
$8.00BMarket Cap
0.5xRel. Volume
In the Jul 7 session, EQX declined 4.85%, reflecting a moderate negative market reaction.
Argus tracked a trough of -2.2% from its starting point during tracking.
Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility.
The sale of most of Equinox Gold’s Versamet position generates cash and removes related rights agree...
Analysis
The sale of most of Equinox Gold’s Versamet position generates cash and removes related rights agreements while ending early warning obligations. Investors may compare this portfolio simplification with a history of varied reactions to strategic announcements and monitor future capital deployment.
Key Figures
Versamet shares sold:8,713,000 sharesGross proceeds:C$130 millionVersamet holding before:11,617,915 shares+5 more
8 metrics
Versamet shares sold8,713,000 sharesBlock trade of Versamet Royalties common shares
Gross proceedsC$130 millionAggregate proceeds from Versamet block trade
Versamet holding before11,617,915 sharesBeneficial ownership before disposition
Ownership before10.7%Percentage of Versamet outstanding shares before disposition
Versamet holding after2,904,915 sharesBeneficial ownership after disposition
Ownership after2.7%Percentage of Versamet outstanding shares after disposition
Early warning threshold10.0%Ownership level triggering ongoing early warning or insider reporting
Former ownership triggerLess than 10.0%Level at which EQX ceased early warning obligations
Reported high shareholder support for directors, auditor and other meeting matters.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent EQX news has often seen the share price weaken after generally constructive corporate announcements, with only the Los Filos land-access update aligning positively.
Key Terms
block trade, right of first offer, early warning report, national instrument 62-103, +1 more
5 terms
block tradefinancial
"pursuant to an agreement with National Bank Financial Inc. by way of a block trade"
A block trade is a large, privately arranged sale or purchase of a company's shares or bonds between big investors, often negotiated to avoid upsetting the public market price. Think of it like selling a truckload of goods directly to one buyer instead of unloading it on a busy street — it moves a lot of supply at once and can signal shifting demand, affect immediate liquidity, and influence short-term stock prices.
"Versamet’s right of first offer to acquire any royalty or stream"
A right of first offer is a contractual agreement that requires an owner to offer an asset or stake to a designated party before marketing it to others; the holder gets the first chance to negotiate terms directly with the seller. For investors, it matters because it can limit who can buy or set the sale price path—like getting the first invitation to buy a sought-after item before it goes on general sale, protecting potential access or controlling competition.
early warning reportregulatory
"An early warning report with additional information in respect of the foregoing matters"
An early warning report is a regulatory filing that publicly discloses when an investor or insider has taken a large or potentially influential position in a company's shares or plans significant actions with those shares. It matters to investors because it flags possible shifts in control, takeover attempts, or concentrated influence—like a neighborhood notice that someone is buying several houses on the block—helping readers reassess risk, valuation, and trading strategy.
national instrument 62-103regulatory
"pursuant to National Instrument 62-103 – The Early Warning System"
National Instrument 62-103 is a Canadian securities rule that requires public disclosure when someone builds a large ownership stake or launches a takeover attempt for a company’s shares. Think of it as a neighborhood rule that forces anyone buying a big slice of a pie to put up a sign so neighbors know a change of ownership might be coming. For investors it matters because these filings signal potential shifts in control, can move the stock price, and trigger other regulatory steps that affect trading and governance.
insider reportingregulatory
"The Early Warning System and Related Take-Over Bid and Insider Reporting Issues"
Insider reporting is the public disclosure of stock trades and holdings by a company’s executives, directors or large shareholders, filed with market regulators so investors can see when people with inside knowledge buy or sell. It matters because these actions can signal confidence or concern about a company’s future—much like a shop owner restocking or clearing shelves, insiders’ moves give clues about how those closest to the business view its prospects.
VANCOUVER, British Columbia, July 06, 2026 (GLOBE NEWSWIRE) -- Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the “Company”) announces it has sold an aggregate of 8,713,000 common shares (the “Versamet Shares”) of Versamet Royalties Corporation (“Versamet”) pursuant to an agreement with National Bank Financial Inc. by way of a block trade (the “Disposition”) for aggregate gross proceeds of C$130 million.
Immediately before the Disposition, Equinox Gold had beneficial ownership of, control and direction over, 11,617,915 Versamet Shares, representing approximately 10.7% of the outstanding Versamet Shares on an undiluted basis.As a result of, and immediately following, the Disposition, Equinox Gold will have beneficial ownership of, control and direction over 2,904,915 Versamet Shares, representing approximately 2.7% of the outstanding Versamet Shares on an undiluted basis. Equinox Gold holds the Versamet Shares for investment purposes. Equinox Gold may, from time to time, acquire additional securities, dispose, subject to certain escrow restrictions, of some or all of its remaining or additional securities, or may continue to hold Versamet Shares as future circumstances may dictate.
Following the Disposition, (i) Versamet’s right of first offer to acquire any royalty or stream held by Equinox Gold will be terminated; and (ii) the investor rights agreement between Equinox Gold and Versamet will automatically terminate on the date that Equinox Gold’s beneficial ownership in Versamet ceases to be at least 10.0% for a continuous period of at least 30 days.
Versamet’s head office is located at Suite 3200 - 733 Seymour Street, Vancouver, British Columbia, V6B 0S6.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report with additional information in respect of the foregoing matters will be filed under Versamet’s profile on SEDAR+ at www.sedarplus.ca, and can also be obtained upon request by contacting Equinox Gold via email at ir@equinoxgold.com. As Equinox Gold beneficially owns less than 10.0% of the outstanding Versamet Shares, Equinox Gold is no longer subject to ongoing early warning or insider reporting requirements in respect of its ownership of Versamet securities.
Equinox Gold Contact Ryan King EVP Capital Markets T: 778.998.3700 E: ryan.king@equinoxgold.com E: 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”). Forward-looking Information in this news release relates to, among other things: any future actions regarding Equinox Gold’s investment in Versamet. Forward-looking Information is generally identified using words like “may”, “will” 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 the Company believes that the expectations reflected in such Forward-looking Information are reasonable, undue reliance should not be placed on Forward-looking Information since the Company can give no assurance that such expectations will prove to be correct. Accordingly, readers are cautioned not to put undue reliance on the forward-looking statements or information contained in this news release. All Forward-looking Information contained in this news release is expressly qualified by this cautionary statement.
FAQ
What transaction did Equinox Gold (EQX) announce with Versamet Royalties on July 6, 2026?
Equinox Gold announced it sold 8,713,000 Versamet Royalties shares for C$130 million. According to the company, this disposition was completed via a block trade arranged with National Bank Financial, significantly reducing Equinox Gold’s ownership stake in Versamet.
How did the Versamet Royalties share sale affect Equinox Gold’s (EQX) ownership percentage?
The sale reduced Equinox Gold’s Versamet stake from 10.7% to 2.7% on an undiluted basis. According to Equinox Gold, it now holds 2,904,915 Versamet shares, down from 11,617,915 shares immediately before the disposition.
How much cash did Equinox Gold (EQX) receive from selling Versamet Royalties shares?
Equinox Gold received aggregate gross proceeds of C$130 million from the Versamet share sale. According to the company, this cash came from a block trade involving 8,713,000 Versamet common shares under an agreement with National Bank Financial.
What happens to Versamet’s rights over Equinox Gold (EQX) royalties after the share sale?
Following the sale, Versamet’s right of first offer on any Equinox Gold royalty or stream will be terminated. According to Equinox Gold, this change alters how future royalty or streaming opportunities between the two companies may be pursued.
Will Equinox Gold (EQX) keep filing early warning or insider reports for Versamet Royalties?
No, Equinox Gold will no longer be subject to ongoing early warning or insider reporting for Versamet. According to the company, its beneficial ownership has fallen below 10%, which ends those specific Canadian reporting requirements on Versamet securities.
Can Equinox Gold (EQX) buy or sell more Versamet Royalties shares after this disposition?
Equinox Gold states it may acquire additional Versamet securities, dispose of more, or hold its remaining shares. According to the company, future actions will depend on circumstances and are not fixed by this single transaction.
When will the investor rights agreement between Equinox Gold (EQX) and Versamet end?
The investor rights agreement will terminate once Equinox Gold’s Versamet ownership stays below 10% for at least 30 continuous days. According to Equinox Gold, this condition was triggered by the reduction of its stake to approximately 2.7%.
