VANCOUVER, Oct. 14, 2015 /CNW/ - Messrs. Marc Prefontaine, Hans
Smit, Troy Fierro and
Richard Hall each announce their
respective ownership in Orla Mining Ltd. (the "Company") (TSX-V:
OLA).
An aggregate of 1,524,000 common shares of the Company (the
"Orla Shares") are directly or indirectly owned by Mr. Prefontaine,
representing approximately 8.7% of the issued and outstanding Orla
Shares. In addition, an aggregate of 1,350,000 common share
purchase warrants (the "Warrants") are directly or indirectly owned
by Mr. Prefontaine. Each Warrant entitles the holder to acquire one
Orla Share at an exercise price of
C$0.06 until March 9, 2017. Assuming exercise of the
Warrants held by Mr. Prefontaine, an aggregate of 2,874,000 Orla
Shares are directly or indirectly owned by Mr. Prefontaine,
representing approximately 15.3% of the issued and outstanding Orla
Shares on a partially diluted basis.
An aggregate of 1,350,000 Orla Shares are indirectly owned by
Mr. Smit, representing approximately 7.7% of the issued and
outstanding Orla Shares. In addition, an aggregate of 1,350,000
Warrants are indirectly owned by Mr. Smit. Assuming exercise of the
Warrants held by Mr. Smit, an aggregate of 2,700,000 Orla Shares
are indirectly owned by Mr. Smit, representing approximately 14.4%
of the issued and outstanding Orla Shares on a partially diluted
basis.
An aggregate of 950,000 Orla Shares are directly owned by Mr.
Fierro, representing approximately 5.4% of the issued and
outstanding Orla Shares. In addition, an aggregate of 950,000
Warrants are directly owned by Mr. Fierro. Assuming exercise
of the Warrants held by Mr. Fierro, an aggregate of 1,900,000 Orla
Shares are directly owned by Mr. Fierro, representing
approximately 10.3% of the issued and outstanding Orla Shares on a
partially diluted basis.
An aggregate of 950,000 Orla Shares are directly owned by
Mr. Hall, representing approximately 5.4% of the issued and
outstanding Orla Shares. In addition, an aggregate of 950,000
Warrants are directly owned by Mr. Hall. Assuming exercise of the
Warrants held by Mr. Hall, an aggregate of 1,900,000 Orla Shares
are directly owned by Mr. Hall, representing approximately
10.3% of the issued and outstanding Orla Shares on a partially
diluted basis.
Each of Messrs. Prefontaine, Smit, Fierro and Hall has advised
the Company that they acquired the Orla Shares for investment
purposes. Each of Mr. Prefontaine, Smit, Fierro and Hall has
indicated that they will review their respective holdings from time
to time and may increase or decrease their respective positions as
future circumstances may dictate.
The early warning reports for of Messrs. Prefontaine, Smit,
Fierro and Hall, as required under National Instrument 62-103,
contain additional information with respect to the foregoing
matters and will be filed under the Company's SEDAR profile at
www.sedar.com.
SOURCE Orla Mining Ltd.