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Orezone Gold Announces C$16.5 Million At-The-Market Private Placement
VANCOUVER, British Columbia, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to anno
About this update from Orezone Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to announce that it has entered into an agreement for an at-the-market, non-brokered private placement of 13,000,000 common shares of the Company at a share price of C$1.27 for gross proceeds of C$16,510,000 (the “Offering”). The Offering was arranged with a large, and well-established, institutional fund. The net proceeds of the Offering will be used for: (i) accelerated project development, (ii) ongoing exploration and evaluation, and (iii) general corporate purposes. Patrick Downey, President & CEO, stated: “We are extremely pleased to attract another high-quality fund to the Orezone growth story. While Q1-2023 is shaping up to be a strong quarter, we view the Offering as an opportunity to add another cornerstone investor and to advance several strategic initiatives. These initiatives include accelerated project development at Bomboré ahead of the Phase II sulphide expansion, additional targeted exploration drilling, and advancement of Orezone’s corporate growth strategy in the region”. It is anticipated that the Offering will close on or about March 8, 2023. The Offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the Toronto Stock Exchange. All common shares issued pursuant to the Offering will be subject to a four month hold period from the date of closing. A finder’s fee is payable in connection with the Offering. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. About Orezone Gold Corporation Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a Canadian mining company operating the open pit Bomboré Gold Mine in Burkina Faso. Orezone is focusing on mining and processing the Phase I near surface free-dig oxides at a planned annual throughput of 5.2 million tonnes. The Company believes that Bomboré has a significant underlying sulphide resource to sup...