Newmont completes sale of 43 million Orla shares

Executive Summary

• Newmont Corp. completed the sale of its entire 13.3% stake (43,245,294 shares) in Orla Mining Ltd. for $439 million USD ($605 million CAD).
• The transaction provides significant cash to fund Newmont’s capital allocation priorities and streamlines its equity portfolio.
• Following the disposition, Newmont holds no remaining common shares of Orla.

Key Details

• Shares sold: 43,245,294 common shares (approximately 13.3% of Orla’s outstanding non‑diluted shares).
• Sale price: $10.14 USD per share ($14 CAD per share).
• Gross proceeds: $439 million USD ($605 million CAD).
• Transaction venue: Executed through the facilities of the Toronto Stock Exchange.
• Purpose: Monetize a portion of Newmont’s investment holdings to support capital allocation priorities and streamline its equity portfolio.
• CEO comment (Tom Palmer): Emphasized commitment to portfolio streamlining, unlocking cash for strategic initiatives, and appreciation for the partnership with Orla.
• Orla CEO comment (Jason Simpson): Highlighted Orla’s growth strategy and gratitude for Newmont’s prior support.
• Regulatory filing: An early warning report will be filed by Newmont in accordance with applicable securities laws.

Notable Quotes

“Today's announcement demonstrates Newmont's ongoing commitment to streamlining our equity portfolio and unlocks significant cash to support Newmont's capital allocation priorities,” – Tom Palmer, CEO, Newmont Corp.

“We are grateful for the confidence placed in us to advance these projects responsibly and to unlock their full potential,” – Jason Simpson, President & CEO, Orla Mining Ltd.