Equinox Gold and Orla Mining sign deal to combine

Greenstone mine construction camp facilities (Equinox Gold)

VANCOUVER — Equinox Gold Corp. and Orla Mining Ltd. have signed a deal to combine operations in a deal that will create a gold miner with about 1.1 million ounces of annual production.

The combined company, which will continue under the Equinox name, will have operating mines in four countries including Orla’s Musselwhite mine in Ontario, and Equinox’s Greenstone mine in Ontario and Valentine mine in Newfoundland and Labrador.

Equinox chief executive Darren Hall, who will remain in the job after the companies are combined, said the deal creates a senior North American gold producer with increased scale, high-quality long-life assets, and one of the strongest organic growth pipelines in the sector.

“By combining our operating teams, financial strength, and complementary asset bases, we are creating a differentiated North American gold producer with the scale, growth profile, and asset quality to drive a meaningful re-rate and deliver long-term value for shareholders,” Hall said in a statement.

Orla chief executive Jason Simpson, who will be president of the combined company, said the miner’s Canadian assets provide a foundation that very few gold producers can match.

“With continued operational focus, we will have substantial financial flexibility to fund our peer-leading growth and continue to return capital to shareholders,” Simpson said in a statement.

Under the agreement, Orla shareholders will receive one Equinox common share and a nominal cash payment of 0.01 of a cent US for each Orla common share held. Equinox shares closed at C$20.28 on the Toronto Stock Exchange on Tuesday, while Orla shares closed at C$19.77.

Equinox shareholders will hold about 67 per cent of the combined company, which will continue under the Equinox name, while former Orla shareholders will own about 33 per cent.

The deal is subject to court, regulatory and shareholder approval.

The transaction will require approval by two-thirds majority vote by Orla shareholders, while the issuance of the Equinox shares requires approval by a simple majority vote by Equinox shareholders.

It is expected to close in the third quarter of this year.

This report by The Canadian Press was first published May 13, 2026.