Orla Mining Acquires Goldcorp’s Camino Rojo Project
|Areas||Corporate Finance and Securities, Mergers and Acquisitions, Mining and Natural Resources, Tax|
Goodmans represented Orla Mining Ltd. (“Orla”) (TSX-V: OLA) in its acquisition of the Camino Rojo Project, a gold and silver oxide heap leach project located in Zacatecas State, Mexico from Goldcorp Inc. (TSX: G, NYSE: GG) (“Goldcorp”) for 31.9 million common shares of Orla (a 19.88% interest in Orla) and a 2% net smelter royalty. Orla and Goldcorp have also entered into an option agreement regarding the potential development of multiple sulphide operations at Camino Rojo in which Goldcorp will, subject to the applicable sulphide project meeting certain thresholds, have an option to acquire a 60% or 70% interest in the applicable sulphide projects.
Orla Mining is a mineral exploration company led by a group of seasoned mining executives with strong financial backing. Orla’s focus is to acquire mineral exploration opportunities where Orla’s exploration and development expertise and corporate share structure could substantially enhance shareholder value.
Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.