VANCOUVER, BC, Jan. 9, 2025
/CNW/ - Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA) ("Orla" or
the "Company") is pleased to announce that the two leading
independent proxy advisory firms have each recommended that Orla's
shareholders vote FOR the resolution to approve the Company's
proposed acquisition of the Musselwhite Mine (the "Transaction")
from Newmont Corporation ("Newmont").
The proxy advisory firms also recommended voting FOR a
resolution to approve a concurrent private placement of convertible
notes and common share purchase warrants to Pierre Lassonde and Fairfax Financial Holdings
Limited. The net proceeds from the private placement will be used
to fund a portion of the purchase price of the Transaction (the
"Concurrent Private Placement").
Your Vote is Important
- The deadline for voting your shares by proxy is 8:00 a.m. (Vancouver time) on Friday January 17, 2025.
- Your vote is important no matter how many shares you own. Vote
today!
- Shareholders who have questions or need assistance with voting
their shares should contact Orla's proxy solicitation agent, Laurel
Hill Advisory Group, by telephone at 1-877-452-7184 or by email at
assistance@laurelhill.com.
Orla's Special Meeting of Shareholders
A special meeting of shareholders of the Company will be held on
January 21, 2025, at 8:00 a.m. (Vancouver time) at Suite 3500 -1133 Melville
Street, Vancouver, British
Columbia, V6E 4E5, to consider the Transaction and
Concurrent Private Placement.
Recommendations of Orla's Board of Directors
Orla's Board of Directors (excluding Scott Langley, Newmont's representative on the
Board), having considered all factors it has deemed to be necessary
to be considered, unanimously recommends Orla's shareholders vote
FOR the resolutions approving the Transaction and the
Concurrent Private Placement.
Shareholders are encouraged to read the Company's management
information circular dated December 9,
2024, and vote their shares as soon as possible. The
management information circular is available on SEDAR+ and EDGAR
under the Company's profile at www.sedarplus.ca and
www.sec.gov, respectively, as well as the Company's website at
www.orlamining.com/investors/musselwhite-special-meeting.
About Orla Mining Ltd.
Orla's corporate strategy is to acquire, develop, and operate
mineral properties where the Company's expertise can substantially
increase stakeholder value. The Company has two material gold
projects: (1) Camino Rojo, located
in Zacatecas State, Mexico and (2)
South Railroad, located in Nevada,
United States. Orla is operating
the Camino Rojo Oxide Gold Mine, a gold and silver open-pit and
heap leach mine. The property is 100% owned by Orla and covers over
139,000 hectares which contains a large oxide and sulphide mineral
resource. Orla is also developing the South Railroad Project, a
feasibility-stage, open pit, heap leach gold project located on the
Carlin trend in Nevada. Orla has also entered into a
definitive agreement with a subsidiary of Newmont to acquire the
Musselwhite Mine, located in Ontario,
Canada. This Transaction is subject to certain conditions
and is expected to close in the first quarter of 2025. The
technical reports for the Company's material projects are available
on Orla's website at www.orlamining.com, and on SEDAR+ and EDGAR
under the Company's profile at www.sedarplus.ca and www.sec.gov,
respectively.
Forward-looking Statements
This news release contains certain "forward-looking
information" and "forward-looking statements" within the meaning of
Canadian securities legislation and within the meaning of Section
27A of the United States Securities Act of 1933, as amended,
Section 21E of the United States Exchange Act of 1934, as amended,
the United States Private Securities Litigation Reform Act of 1995,
or in releases made by the United States Securities and Exchange
Commission, all as may be amended from time to time, including,
without limitation, statements regarding the Company's
special meeting held to consider the Transaction and Concurrent
Private Placement and the expected closing date of the Transaction.
Forward-looking statements are statements that are not historical
facts which address events, results, outcomes or developments that
the Company expects to occur. Forward-looking statements are based
on the beliefs, estimates and opinions of the Company's management
on the date the statements are made and they involve a number of
risks and uncertainties. Certain material assumptions regarding
such forward-looking statements were made. Consequently, there can
be no assurances that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements involve
significant known and unknown risks and uncertainties, which could
cause actual results to differ materially from those anticipated.
These risks include, but are not limited to, the risk factors
discussed in the Company's most recently filed management's
discussion and analysis, as well as its annual information form
dated March 19, 2024, which are
available on www.sedarplus.ca and
www.sec.gov. Except as required by the securities
disclosure laws and regulations applicable to the Company, the
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change.
SOURCE Orla Mining Ltd.
