Orla Mining Ltd. (TSX: OLA) (NYSE American: ORLA) is pleased to announce that it has closed its previously announced non-brokered prospectus financing consisting of 9,085,263 common shares priced at C$4.75 per common share for total gross proceeds of US$35,000,000 (C$43,155,000).
The Offering was subscribed to by certain accredited investors under applicable securities laws, including a large institutional investor, Pierre Lassonde, Agnico Eagle Mines Limited, and Trinity Capital Partners Corporation. The net proceeds from the Offering will be used for development activities at the Camino Rojo Oxide Gold Project and at the Cerro Quema Oxide Gold Project, exploration activities, technical studies on the Camino Rojo Sulphide Project, and for general corporate purposes, as further detailed in the prospectus supplement.
The Common Shares were offered in Canada by way of a prospectus supplement which was filed on July 5, 2021 in all provinces and territories of Canada, except Québec, and in the United States pursuant to a “shelf” registration statement on Form F-10 (File No. 333-252957) previously filed and declared effective by the U.S. Securities and Exchange Commission (SEC) on March 15, 2021 under the multi-jurisdictional disclosure system adopted by the securities regulatory authorities in Canada and the United States. The Offering was made only by means of a prospectus supplement and accompanying prospectus that forms a part of the registration statement.
This press release shall not constitute investment advice or an offer to sell or the solicitation of an offer to buy securities in the United States.
About Orla Mining Ltd.
Orla is developing the Camino Rojo Oxide Gold Project, an advanced gold and silver open-pit and heap leach project, located in Zacatecas State, Central Mexico. The project is 100% owned by Orla and covers over 160,000 hectares. The technical report for the 2021 Feasibility Study entitled “Unconstrained Feasibility Study NI 43-101 Technical Report on the Camino Rojo Gold Project – Municipality of Mazapil, Zacatecas, Mexico” dated January 11, 2021, is available on SEDAR and EDGAR under the Company’s profile at www.sedar.com and www.sec.gov, respectively. The technical report is also available on Orla’s website at www.orlamining.com. Orla also owns 100% of the Cerro Quema Project located in Panama which includes a near-term gold production scenario and various exploration targets. The Cerro Quema Project is a proposed open pit mine and gold heap leach operation. Please refer to the “Cerro Quema Project – Pre-feasibility Study on the La Pava and Quemita Oxide Gold Deposits” dated August 15, 2014, which is also available on SEDAR at www.sedar.com.
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We acknowledge the [financial] support of the Government of Canada.