Agnico Eagle sells entire $560M position in Orla Mining

Executive Summary

• Agnico Eagle sold its entire 38,002,589‑share (≈11.3%) holding in Orla Mining Ltd for $560.5 million at $14.75 per share.
• The transaction fully exits Agnico Eagle’s ownership; it now holds zero shares of Orla.
• Proceeds will be redeployed to Agnico Eagle’s strategic priorities and internal growth projects.

Key Details

• Shares sold: 38,002,589 common shares of Orla Mining Ltd. (≈11.3% of Orla’s issued & outstanding shares on a non‑diluted basis).
• Sale price: $14.75 per share.
• Total consideration: $560,538,188 cash.
• Transaction venue: Executed through the facilities of the Toronto Stock Exchange; buyers located in Canada, the United States and elsewhere.
• Post‑sale ownership: Agnostic Eagle holds no beneficial ownership, control, or direction over any Orla common shares.
• Strategic rationale: Monetize a mature investment to fund Agnico Eagle’s internal growth projects and disciplined capital allocation.
• CEO comment (Agnico Eagle): Emphasized “disciplined capital allocation” and the intent to redeploy cash to strategic priorities.
• Orla Management comment: Acknowledged Agnico Eagle’s support in Orla’s evolution from a junior explorer to a mid‑tier gold producer and thanked Agnico for its contribution.
• Regulatory filing: An early warning report will be filed by Agnico Eagle per securities law requirements.

Notable Quotes

“Our investment in Orla has been mutually beneficial… this demonstrates our commitment to disciplined capital allocation and allows us to redeploy capital to our strategic priorities.” – Ammar Al‑Joundi, President & CEO, Agnico Eagle

“This mutually beneficial next step allows Orla to broaden our investor base and enhance long‑term liquidity.” – Jason Simpson, President & COO, Orla Mining Ltd.