Equinox Gold, Orla Mining Agree to Combine Operations

Vancouver, Canada - Equinox Gold Corp. and Orla Mining Ltd. announced an agreement on Tuesday to combine their operations, forming a gold mining company with annual production of approximately 1.1 million ounces.

The all-share transaction, valued based on recent market closes, will see Orla shareholders receive one common share of Equinox and a nominal cash payment of US$0.0001 for each Orla share outstanding. Equinox shares closed at C$20.28 on the Toronto Stock Exchange that day, while Orla shares ended at C$19.77. Following the deal's completion, Equinox shareholders will own about 67 percent of the combined entity, with former Orla shareholders holding the remaining 33 percent. The company will retain the Equinox Gold name and its TSX listing under the ticker EQX.

Equinox Chief Executive Darren Hall will continue in his role, while Orla Chief Executive Jason Simpson will serve as president of the merged company. The deal positions the new entity as a multi-jurisdictional producer with operating mines across four countries. Key assets include Orla's Musselwhite gold mine in Ontario, Equinox's Greenstone mine also in Ontario, and the Valentine gold project in Newfoundland and...