11:05 AM EDT, 04/01/2024 (MT Newswires) -- National Bank of Canada on Monday noted Equinox Gold's ( EQX ) agreement to amend certain items on its 2024 and 2025 convertible notes.

Under the terms, the maturity date of the $139.7 million of the2024 convertible notes principal 5% was extended to Oct. 12 from April 12, with no additional changes to the terms. Conversion price is US$5.25.

The 2025 convertible notes for $139.3 million principal 4.75% is now maturing Sept. 10, 2025, from March 10, 2025. The conversion price was lowered to US$6.50 from US$7.80.

The bank said the amendments provided Equinox with additional financial flexibility amid the development homestretch of the Greenstone project, with first gold pour scheduled in the second quarter and commercial production expected in the third quarter.

National Bank gave Equinox a sector perform rating with a $7.00 price target.

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