Price Target Changed • Aug 11
Price target decreased to CA$0.69 Down from CA$0.84, the current price target is an average from 3 analysts. New target price is 32% above last closing price of CA$0.52. The company is forecast to post a net loss per share of CA$0.03 next year compared to a net loss per share of CA$0.031 last year. Announcement • Jun 15
Orla Mining Ltd. (TSX:OLA) entered into a definitive agreement to acquire Gold Standard Ventures Corp (TSX:GSV) from Newmont Corporation (NYSE:NEM) for approximately CAD 240 million. Orla Mining Ltd. (TSX:OLA) entered into a definitive agreement to acquire Gold Standard Ventures Corp (TSX:GSV) from Newmont Corporation (NYSE:NEM) for approximately CAD 240 million on June 12, 2022. Under the terms of the Transaction, Gold Standard shareholders will receive, in exchange for each Gold Standard common share held, 0.1193 of a common share of Orla and CAD 0.0001. Existing shareholders of Orla and Gold Standard will own approximately 87% and 13% of the pro forma company, respectively, following the close of the Transaction. The Arrangement Agreement includes customary representations and warranties of each party, non-solicitation covenants by Gold Standard, "right-to-match" provisions in favour of Orla in the event of a Superior Proposal (as defined in the Arrangement Agreement) and a termination fee in favour of Orla in the amount of CAD 7.3 million should the Arrangement Agreement be terminated in certain circumstances.
The Transaction will be effected by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) and will require approval by 662/3% of the votes cast by Gold Standard shareholders. The completion of the Transaction remains subject to customary conditions, including receipt of all necessary court, stock exchange and regulatory approvals. The Arrangement Agreement has been unanimously approved by the Board of Directors of Orla and Gold Standard. The Board of Directors of Gold Standard recommends that Gold Standard shareholders vote in favour of the Transaction. Officers and Directors of Gold Standard, along with a key shareholder of Gold Standard, Newmont Corp. representing in aggregate approximately 5.7% of the issued and outstanding Gold Standard Shares, have entered into voting support agreements with Orla and have agreed to vote in favour of the Transaction. The Gold Standard Meeting is expected to occur in August 2022. The Transaction is expected to be completed in August 2022 following the Gold Standard Meeting.
TD Securities Inc. has provided a fairness opinion to the Board of Directors of Gold Standard and Paradigm Capital Inc. has provided a fairness opinion to a Special Committee of Gold Standard Directors. Trinity Advisors Corporation and Stifel Nicolaus Canada Inc. have provided fairness opinions to the Board of Directors of Orla. Trinity Advisors Corporation and Stifel Nicolaus Canada Inc. acted as financial advisors to Orla. Jen Hansen and Jeffrey Roy of Cassels Brock & Blackwell LLP with respect to Canadian matters and John Koenigsknecht of Neal, Gerber & Eisenberg LLP regarding US matters acted as legal advisors to Orla. TD Securities Inc acted as financial advisors to Gold Standard. Paradigm Capital Inc. is financial advisor to a Special Committee of Gold Standard Directors. Gold Standard's legal advisors are Bob Wooder and Susan Tomaine of Blake, Cassels & Graydon LLP with respect to Canadian matters and Randal Jones of Dorsey & Whitney LLP regarding US matters. Price Target Changed • Jun 14
Price target decreased to CA$0.93 Down from CA$1.21, the current price target is an average from 4 analysts. New target price is 82% above last closing price of CA$0.51. The company is forecast to post a net loss per share of CA$0.03 next year compared to a net loss per share of CA$0.031 last year. 
