MDC Industry Holding Company LLC Announces Acquisition of US$130,000,000 in Convertible Notes of Equinox Gold Corp.

ABU DHABI, UAE, April 12, 2019 /CNW/ - MDC Industry Holding Company LLC ("MDCI"), a wholly-owned subsidiary of Mubadala Investment Company PJSC, announced today that it has completed a subscription for US$130,000,000 in convertible notes (the "Notes") issued by Equinox Gold Corp. (TSX-V: EQX, OTC: EQXFF) ("Equinox Gold") by way of a private placement (the "Private Placement"). The Notes have a 5-year term and bear interest at 5% per year payable quarterly in arrears. The Notes are convertible in whole or in part at MDCI's option into common shares ("Common Shares") in the capital of Equinox Gold at a price of US$1.05 per Common Share.

Upon full conversion of the Notes, MDCI would acquire 123,809,524 Common Shares, representing approximately 18.3% of the Common Shares that would be issued and outstanding upon the conversion of the Notes. MDCI did not own or control, directly or indirectly, any securities of Equinox Gold immediately prior to the closing of the Private Placement.

MDCI acquired the Notes for investment purposes. It may elect to convert some or all of the Notes into Common Shares in accordance with their terms, and may, in accordance with applicable securities laws, increase or decrease its investment by future acquisitions or dispositions of Notes, Common Shares or other equity, debt or other securities of Equinox Gold in the open market, through private agreement or treasury issuances or otherwise, depending on market conditions, the business and prospects of Equinox Gold and other relevant factors.

Pursuant to an investor rights agreement dated April 11, 2019 entered into between MDCI and Equinox Gold in connection with the Private Placement, MDCI intends to nominate Mohamed Alsuwaidi for appointment to the board of Equinox Gold to fill the vacancy that will be created upon the size of the board being increased to eight directors immediately following the annual meeting of shareholders of Equinox Gold scheduled for May 1, 2019.

The head office of Equinox Gold is located at Suite 730, 800 West Pender St. Vancouver, British Columbia, Canada, V6C 2V6.

This news release is issued in accordance with the early warning requirements under applicable Canadian securities laws. An early warning report relating to the Private Placement will be filed by MDCI with applicable securities regulators and will be available for viewing under Equinox Gold's SEDAR profile at www.sedar.com. A copy of the early warning report may be obtained by contacting Andre Namphy at the contact information provided below.

SOURCE MDC Industry Holding Company LLC

For further information: MDC Industry Holding Company LLC, Al Mamoura Building A, Fifth Floor, Intersection of Muroor Road & 15th Street P.O. Box 45005 Abu Dhabi United Arab Emirates, Telephone: [phone], Attn: Andre Namphy, General Counsel