On May 13, 2026, Orla Mining Ltd. and Equinox Gold Corp. announced that they have entered into a definitive arrangement agreement for an at-market combination to create a new North American senior gold producer with an US$18.5 billion implied market capitalization. Pursuant to the agreement, Equinox Gold will acquire all of the issued and outstanding common shares of Orla Mining pursuant to a court-approved plan of arrangement. The combined company will continue under the name Equinox Gold Corp.
Under the terms of the agreement, Orla Mining shareholders will receive 1.00 Equinox Gold common share and a nominal cash payment of US$0.0001 for each Orla Mining common share held immediately prior to the effective time of the transaction. Upon completion of the transaction, existing Equinox Gold shareholders and former Orla Mining shareholders will own approximately 67% and 33% of the outstanding common shares of the combined company, respectively, on a fully diluted in-the-money basis.
Cassels is acting for Orla Mining.