TORONTO, June 08, 2026 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited ("Fairfax") (TSX:FFH) announces that it has acquired, through its insurance company subsidiaries, 26,582,275 common shares (the "Conversion Shares") of Orla Mining Ltd. ("Orla") resulting from the conversion of an aggregate amount of US$150,000,000 principal amount of senior unsecured convertible notes (the "Notes") of Orla, which were converted into common shares of Orla (the "Common Shares") upon the election of Fairfax at a conversion price per Common Share of CDN$7.90 pursuant to the terms of the Notes.

The Conversion Shares represent approximately 7.1% of the issued and outstanding Common Shares of Orla and brings Fairfax's total holdings, through its insurance subsidiaries, of Orla's securities to 58,399,504 Common Shares and 17,544,302 warrants ("Warrants"), which allow Fairfax to acquire up to 17,544,302 Common Shares at an exercise price of CDN$11.50 per Warrant, representing approximately 15.7% of the issued and outstanding Common Shares (on a non-diluted basis) and approximately 19.5% of the issued and outstanding Common ...