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Orla Mining announces C$75 million bought-deal financing

Kitco News

Mexican junior Orla Mining (TSX:OLA) said today it entered into an agreement with a syndicate of underwriters led by Stifel Nicolaus Canada where underwriters will purchase, on a bought deal basis, 36.6 million common shares for gross proceeds of C$75 million.

"Newmont Corporation and Agnico Eagle Mines Limited each have indicated that they intend to subscribe for such number of Common Shares from the Offering pursuant to their participation rights in order to maintain their respective ownership positions, and along with a commitment from Pierre Lassonde," said the company in a news release.

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.

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