Fort Capital Partners is pleased to announce that Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) and Orla Mining Ltd. (TSX: OLA, NYSE American: ORLA) have entered into a definitive arrangement agreement for an at-market combination to create a new North American senior gold producer with approximately 1.1 million ounces of expected annual gold production and an $18.5 billion implied market capitalization.
Upon closing, existing Equinox shareholders and former Orla shareholders will own approximately 67% and 33% of the combined company, respectively, on a fully diluted in-the-money basis. The combined company will continue under the name Equinox Gold Corp.
The transaction combines two North America-focused gold producers into a highly complementary portfolio of six operating mines across Canada, the United States, Mexico, and Nicaragua, anchored by three long-life Canadian gold mines. The combined company will hold 22.7 million ounces of Proven and Probable Mineral Reserves and has a clear path to more than 1.9 million ounces of annual gold production from an internally funded North American growth pipeline.
Fort Capital provided a fairness opinion to the Special Committee of independent directors of Orla.
Read the full press release here: https://www.newswire.ca/news-releases/equinox-gold-and-orla-mining-combine-to-create-north-america-s-new-senior-gold-producer-built-to-grow-built-to-last-882045089.html