Ann: Notification regarding unquoted securities - EQX, page-14

What would you describe as 'a legacy shareholder'? What would describe as investing in a shell?? I would describe someone that started buying at 32c when cash backing was 32c as someone investing in a shell. However I would also describe someone that started buying at 32c WAY BACK in 2014 as somewhat of a legacy shareholder????

Since that initial purchase I have bought EQX on 13 different occasions so its fair to say I am investing in a shell and backing the management....and now have a reasonable holding. I have managed to get my average entry down to 23c.

But fair crack of the sausage...it has been 8 years and 1/2 the cash was blown on a related company..so I think the current management has MASSIVE QUESTION MARKS against them. Sure they have a reasonable track record within the industry...but in EQX it is almost criminal how long nothing has happened and 1/2 the cash was blown.

I also question when they had $40m cash, cash burn was effectively ZERO...Now EQX has under 1/2 that EQX are burning $500k a quarter.???? Hopefully that indicates they are looking at projects.

I could give you a long list of cheaper shells (enterprise value) out there.