Fairfax Sells Common Shares of Orla

Core Viewpoint - Fairfax Financial Holdings Limited has sold 25,000,000 common shares of Orla Mining Ltd for approximately CDN$441.1 million as part of its investment portfolio rebalancing [1] Group 1: Share Sale Details - The common shares were sold at a price of CDN$17.6435 per share, resulting in total proceeds of approximately CDN$441.1 million (US$316.1 million) [1] - Prior to the sale, Fairfax owned 56,817,229 common shares, US$150 million in senior unsecured convertible notes, and 17,544,302 warrants [2] - After the sale, Fairfax's ownership decreased to 31,817,229 common shares, maintaining the same amount of convertible notes and warrants [2] Group 2: Ownership Structure - Following the share sale, Fairfax holds approximately 9.4% of the issued and outstanding common shares on a non-diluted basis and approximately 19.8% on a partially-diluted basis [2] - The convertible notes can be converted into common shares at a price of CDN$7.90, while the warrants allow acquisition at an exercise price of CDN$11.50 [2] Group 3: Future Intentions - Fairfax holds the shares, notes, and warrants for investment purposes and may engage in discussions with Orla's management regarding future transactions [3] - The company may also trade or dispose of its holdings based on market price changes or Orla's operational updates [3] Group 4: Company Information - Fairfax is primarily engaged in property and casualty insurance and reinsurance, along with associated investment management [4] - The registered office of Fairfax is located in Toronto, Ontario, while Orla's office is in Vancouver, British Columbia [4]