Fairfax Announces Acquisition of Additional Orla Shares
February 26 2024 - 7:50AM
Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U)
announces that it has acquired, through its insurance company
subsidiaries, 800,000 common shares (the “Common Shares”) of Orla
Mining Ltd. (TSX: OLA) (“Orla”) at an average price of $4.88 per
Common Share, for an aggregate purchase price of approximately
$3,903,000 through the facilities of the Toronto Stock Exchange
(the “Share Purchase”).
The Share Purchase represents approximately
0.25% of the issued and outstanding Common Shares of Orla and
brings Fairfax’s total holdings, through its insurance
subsidiaries, of such securities to 55,405,229 Common Shares (or
approximately 17.58% of all Common Shares).
Immediately prior to the Share Purchase,
Fairfax, through its insurance company subsidiaries, beneficially
owned and controlled 54,605,229 Common Shares, representing
approximately 17.33% of the issued and outstanding Common Shares of
Orla.
The Common Shares were acquired by Fairfax for
investment purposes, and in the future, it may discuss with
management and/or the board of directors of Orla any of the
transactions listed in clauses (a) to (k) of item 5 of Form F1 of
National Instrument 62-103 – The Early Warning System and Related
Take-over Bid and Insider Reporting Issues and it may further
purchase, hold, vote, trade, dispose or otherwise deal in the
securities of Orla, in such manner as it deems advisable to benefit
from changes in market prices of Orla’s securities, publicly
disclosed changes in the operations of Orla, its business strategy
or prospects or from a material transaction of Orla.
An early warning report will be filed by Fairfax
in accordance with applicable securities laws and will be available
on SEDAR+ at www.sedarplus.com or may be obtained directly from
John Varnell, Vice President, Corporate Development of Fairfax upon
request at the telephone number below.
Fairfax’s head and registered office is located
at 95 Wellington Street West, Suite 800, Toronto, Ontario, M5J
2N7.
Orla’s head and registered office is located at
1010-1075 W. Georgia St., Vancouver, British Columbia V6E 3C9.
Fairfax is a holding company which, through its
subsidiaries, is primarily engaged in property and casualty
insurance and reinsurance and the associated investment
management.
For further information contact:
John Varnell, Vice President, Corporate
Development at (416) 367-4941
Orla Mining (TSX:OLA)
Historical Stock Chart
From Jul 2024 to Aug 2024
Orla Mining (TSX:OLA)
Historical Stock Chart
From Aug 2023 to Aug 2024