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Equinox Gold Corp. and Orla Mining Ltd. completed their previously announced business combination on July 31, 2026, creating a North American senior gold producer that will continue under the Equinox Gold name. The transaction was first announced on May 13, 2026, when the companies entered into a definitive arrangement agreement for an at-market combination with an implied market capitalization of US$18.5 billion. Under the arrangement, Equinox acquired all issued and outstanding common shares of Orla by court-approved plan of arrangement, and Orla shareholders received 1.00 Equinox common share plus a nominal cash payment of US$0.0001 for each Orla share held immediately before closing. Existing Equinox shareholders and former Orla shareholders were expected to own approximately 67 percent and 33 percent, respectively, of the combined company on a fully diluted in-the-money basis. The combined company is expected to produce approximately 1.1 million ounces of gold annually, with a path to more than 1.9 million ounces through North American growth projects. The business will be anchored by Equinox’s Greenstone mine in Ontario and Valentine mine in Newfoundland and Labrador, plus Orla’s Musselwhite mine in Ontario. On closing, Ross Beaty stepped down as chair and became chairman emeritus and special advisor, while Chuck Jeannes became incoming chair. Equinox also announced that Darren Hall would retire as CEO effective October 31, 2026, with Jason Simpson to take over after a transition period.
Parties
Company
Equinox Gold Corp.
Company
Orla Mining Ltd.
Company
Fairfax Financial Holdings Limited
Company
Orla special committee
Deal Type
Merger & AcquisitionIndustry
MiningTransaction
$ 25,424,180,000Deal Status
ClosedClosing Date
31 July 2026