ORION MINE FINANCE ANNOUNCES FINANCING TRANSACTIONS WITH SABINA GOLD & SILVER CORP.

TORONTO, Feb. 8, 2022 /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“), entered into a subscription agreement on February 7, 2022 (the “Subscription Agreement“) with Sabina Gold & Silver Corp. (“Sabina“) and Wheaton Precious Metals Corp. (“Wheaton“), pursuant to which Orion has agreed to subscribe for common shares of Sabina (“Common Shares“) for aggregate gross proceeds of approximately C$95 million (the “Orion Private Placement“) and Wheaton has agreed to subscribe for Common Shares for aggregate gross proceeds of approximately C$25 million (together with the Orion Private Placement, the “Private Placement“). The subscription price for the issuances under the Private Placement will be C$1.30 per Common Share and the Private Placement is expected to be completed in three tranches. Sabina has notified Zhaojin International Mining Company Ltd. (“Zhaojin“) of its participation rights in respect of the Private Placement, which Zhaojin may exercise to acquire additional Common Shares in connection therewith. Zhaojin’s subscription for Common Shares will impact the allocation of the Common Shares to be issued in the second and third tranche of the Private Placement. The Private Placement is subject to the acceptance of the Toronto Stock Exchange (the “TSX“) and other customary closing conditions and the final tranche of the Private Placement is subject to the approval of Sabina’s shareholders pursuant to the polices of the TSX (the “Shareholder Approval“).

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