Equinox Gold to Acquire Orla Mining in a $6.83 Billion Deal

Equinox Gold Corp. (EQX) entered a merger agreement on May 13, 2026, to acquire Orla Mining Ltd. (ORLA) in a deal valued at $6.83 billion.

Deal Structure:

Orla shareholders will receive 1 Equinox common share and a nominal cash payment of $0.0001 for each Orla common share held, representing a value of $14.8 per Orla share. The price is at a premium of 2.28% from the stock’s last close.

Company Profile:

Orla Mining is a Canada-based gold mining company engaged in the acquisition, development, and operation of mineral properties. The company owns the producing Camino Rojo mine in Mexico, the Musselwhite gold mine in Canada, and the South Railroad gold development project in Nevada, U.S.

Equinox Gold is a Canada-based gold mining company engaged in the acquisition, exploration, development, and operation of gold and silver properties across the Americas. The company operates mines and development projects in Brazil, the United States, Mexico, and Canada.

Deal Details and Timeline:

The merger will create a new North American senior gold producer expected to generate about 1.1 million ounces of annual gold production. The combined company will be built around three long-life gold mines in Canada and has the potential to increase annual gold production to more than 1.9 million ounces through its own North American growth projects.

Following the merger, existing Equinox shareholders and former Orla shareholders are expected to own roughly 67% and 33% of the combined company’s outstanding common shares, respectively.

In 2026, Equinox’s Greenstone and Valentine mines are expected to produce about 450,000 ounces of gold, while Orla’s Musselwhite mine in Ontario is expected to add another 235,000 ounces. Together, the combined company is expected to produce nearly 700,000 ounces of gold annually in Canada, making it the country’s second-largest gold producer.

Darren Hall will continue as Chief Executive Officer of the combined company, while Jason Simpson will join the leadership team as President. The combined company’s board will consist of 11 directors, including Chuck Jeannes as Chair, six directors from Equinox, and four directors from Orla.

The deal is expected to close in Q3 2026.

Orla Mining was advised on the deal by Trinity Advisors, Scotiabank, and Fort Capital on financial matters, while legal advice was provided by Cassels Brock & Blackwell, Crowell & Moring, and Fasken Martineau DuMoulin. Equinox Gold received financial advice from BMO Capital Markets and legal counsel from Blake, Cassels & Graydon and Paul, Weiss, Rifkind, Wharton & Garrison.

Deal Metrics:

For a detailed breakdown of the metrics involved in this M&A transaction, you can visit our Deal Metrics page here:

Deal Metrics for the acquisition of Orla Mining Ltd. (ORLA) by Equinox Gold Corp. (EQX)

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– A historical chart of the merger’s spread from announcement through to completion or failure.
– A timeline of every event as the merger progresses through the HSR period, regulatory approvals, shareholder votes, etc.
– A compilation of news and SEC filings.
– A history of deal updates.
– And a plethora of other data.

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Editor’s Note: Baranjot Kaur contributed to this article