Prior to the transaction, Fairfax held 56.8 million Orla shares, US$150 million in convertible notes, and 17.5 million warrants, representing roughly 16.7% of Orla’s issued and outstanding shares on a non-diluted basis. Following the sale, Fairfax now owns 31.8 million shares along with the same notes and warrants, reducing its non-diluted stake to 9.4% and its partially-diluted ownership, assuming conversion and exercise of notes and warrants, to about 19.8%.