Equinox Gold Shareholders Give 99.7% Backing to Orla Mining Deal

Equinox Gold shareholders approved the share issuance tied to its proposed acquisition of Orla Mining with about 99.7% support, clearing a major shareholder hurdle for the deal.

The combined company would create a larger North America-focused gold producer, with about 700,000 ounces of annual Canadian gold output and a path to grow production by more than 800,000 ounces from advanced projects.

Equinox Gold expects the transaction to close by late July or early August, with remaining steps including Orla shareholder approval and a court hearing scheduled for July 28.

Equinox Gold NYSEAMERICAN: EQX shareholders approved a share issuance resolution tied to the company’s proposed acquisition of Orla Mining Ltd. at a special meeting, with Chair of the Board Ross Beaty saying the vote was “resoundingly in favor.”

Beaty said final voting results would be included in the meeting minutes and announced in a press release later in the day in accordance with Canadian securities laws and Toronto Stock Exchange policies.

During the meeting, he noted that the vote was approximately 99.7% in favor, while the formal tabulation was still to be published.

The resolution authorizes the issuance of Equinox Gold shares in connection with the proposed acquisition of all outstanding Orla common shares by way of a plan of arrangement under the Canada Business Corporations Act.

The arrangement agreement between Equinox Gold and Orla is dated May 12, 2026, according to Beaty.

Beaty said the proposed merger, announced May 13, is intended to combine two North America-focused gold producers with a complementary portfolio of operating mines across four countries.

He said the combined company would be anchored by three “high-quality, long-life, low-cost Canadian gold mines,” including Equinox Gold’s Greenstone and Valentine mines, which are expected to produce 450,000 ounces of gold annually, and Orla’s Musselwhite Mine in Ontario, which is expected to contribute 235,000 ounces annually.

“At nearly 700,000 oz of expected annual gold production from Canada, the combined company will be the second largest producer of Canadian gold,” Beaty said.

Beaty also said the combined company would have a path to increase annual production by more than 800,000 ounces from advanced exploration and development projects.

He cited expected additional production of 350,000 ounces from Castle Mountain and South Railroad in the U.S., and nearly 500,000 ounces in Mexico from Los Filos and an expansion at Camino Rojo.

At current gold prices, Beaty said Equinox Gold expects the organic growth to be funded from operating cash flow and available liquidity.

He added that all growth projects have established mineral reserves.

According to Beaty, the combined company would have 22.7 million ounces of proven and probable mineral reserves, 25.1 million ounces of measured and indicated mineral resources exclusive of mineral reserves, and 13 million ounces of inferred mineral resources.

Beaty said the meeting marked his final time serving as chair at a shareholder meeting.

Upon completion of the combination, he said he will step down as chair and board member, with Charles “Chuck” Jeannes set to become chair of the board.

Beaty said he will remain involved with Equinox Gold as chair emeritus and special advisor to the board, adding that he is “not selling a single share” and expects to attend board meetings and provide input.

He also said Jason Simpson, Orla’s president and chief executive officer, will join the combined ...