TORONTO, Feb. 14, 2023 /CNW/ – Orion Mine Finance announced today that Orion Fund III (Mt) LLC, a limited liability company managed by Orion Mine Finance Management III LLC  (collectively, “Orion“), sold a total of 27,732,692 common shares (each a “Common Share“) of Sabina Gold & Silver Corp. (“Sabina“) through the facilities of the Toronto Stock Exchange on February 13, 2023 for aggregate gross proceeds of C$48,645,727.25 (the “Transaction“). The Transaction was comprised of (i) 18,317,352 Common Shares that were sold at a price of C$1.7563 per Common Share for gross proceeds of C$32,170,765.32 and (ii) 9,415,340 Common Shares that were sold at a price of C$1.7498 per Common Share for gross proceeds of C$16,474,961.93.

Immediately prior to the Transaction, Orion beneficially owned 72,732,692 Common Shares, representing approximately 13.1%of Sabina’s issued and outstanding Common Shares (based on a total of 557,001,278 Common Shares being issued and outstanding on the date hereof). Immediately following the Transaction, Orion beneficially owned 45,000,000 Common Shares, representing approximately 8.1% of Sabina’s issued and outstanding Common Shares (based on a total of 557,001,278 Common Shares being issued and outstanding on the date hereof), which is a decrease of approximately 5.0% in Orion’s securityholding percentage in respect of the Common Shares.

Orion’s disposition of Common Shares pursuant to the Transaction was made in the ordinary course of its business operations.Orion has no current plan or intentions which relate to, or would result in, acquiring additional securities of Sabina, disposing of securities of Sabina, or any of the other actions requiring disclosure under the early warning reporting provisions of applicable securities laws. Depending on market conditions, Orion’s view of Sabina’s prospects and other factors Orion considers relevant, Orion may acquire additional securities of Sabina from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all or a portion of its securities of Sabina.

This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR profile of Sabina  at www.sedar.com . To obtain a copy of the early warning report, you may also contact David Blassberger, Deputy General Counsel of Orion Resource Partners (USA) LP at 212-596-3491. Orion Mine Finance Management III LLC’s  address is 251 Little Falls Drive, Wilmington, Delaware, USA, 19808 . Sabina’s head office is located at 555 Burrard Street, Suite 1800, Vancouver, BC, V7X 1M7. Orion’s ownership of Common Shares is now below the reporting threshold prescribed by applicable securities laws.

Certain statements in this press release are forward-looking statements and are prospective in nature, including statements with respect to Orion’s future intentions regarding the securities of Sabina. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and Orion is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Orion Mine Finance Management III LLC