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Orezone Gold Announces C$20 Million Bought Deal Public Offering of Units
VANCOUVER, Jan. 8, 2020 /CNW/ - Orezone Gold Corporation (TSXV:ORE) ("Orezone" or the "Company") is pleased to announce that it has entered into an agreement wi
About this update from Orezone Gold Corporation
[{"type":"text","content":" VANCOUVER, Jan. 8, 2020 /CNW/ - Orezone Gold Corporation (TSXV:ORE) (\"Orezone\" or the \"Company\") is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and PI Financial Corp. to act as co-lead underwriters, on behalf of a syndicate of underwriters (collectively the \"Underwriters\"), pursuant to which the Underwriters will purchase, on a bought deal basis, an aggregate of 37,100,000 units (the \"Units\") of the Company at a price of C$0.54 per Unit (the \"Offering Price\") for aggregate gross proceeds of C$20,034,000 (the \"Underwritten Offering\"). Each Unit will be comprised of one common share of the Company and one half of one common share purchase warrant of the Company (each full warrant, a \"Warrant\"). Each Warrant will entitle the holder to acquire one common share of the Company at a price of C$0.80 per common share at any time on or before that date which is 36 months after the Closing Date (as defined herein). In addition, the Company will grant the Underwriters an option to acquire up to an additional 5,565,000 Units (the \"Underwriter Option Units\" and together with Units, the \"Offered Securities\") at a price of C$0.54 per Underwriter Option Unit for additional gross proceeds of up to C$3,005,100 (the \"Underwriter Option\" and together with the Underwritten Offering, the \"Offering\"), exercisable in whole or in part, at any time on or prior to the date that is 30 days following the Closing Date. The Company intends to use the net proceeds from the Offering to advance Bomboré towards production, as well as for working capital and general corporate purposes. The Offered Securities will be offered by way of a short-form prospectus in each of the provinces of Canada, except Québec, as agreed to by the Company and the Underwriters. Closing of the Offering is expected to occur on or about January 29, 2020 (the \"Closing Date\") and is subject to certain conditions including, but not limited to, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been ...