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Orezone Gold Provides an Update on the Project Debt Package
VANCOUVER, British Columbia, May 20, 2021 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX.V: ORE OTCQX: ORZCF) (the “Company”) announces that the Project Debt
About this update from Orezone Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, May 20, 2021 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX.V: ORE OTCQX: ORZCF) (the “Company”) announces that the Project Debt Package is progressing well and the Company is working to finalize documentation on the Senior Debt Facility, the Convertible Note Facility, the Silver Stream Agreement and the related intercreditor agreement. As required by the policies of the TSX Venture Exchange, the Company is issuing this press release as part of the application to the TSXV with respect to the Convertible Note Facility. The 8.5% Convertible Note Facility included in the Project Debt package will be convertible at the option of the lenders at any time at a conversion price of US$1.08 (the “Conversion Price”), representing a 30% premium to the offering price of the bought deal equity offering that closed on January 28, 2021. The Company expects to call and hold a separate special shareholder meeting to approve the issuance of the Convertible Note Facility to Resource Capital Fund VII L.P. (“RCF VII”). RCF VII and Beedie Investments Ltd. have agreed to subscribe for US$25 million and US$10 million, respectively. About Orezone Gold Corporation Orezone Gold Corporation (TSX.V: ORE OTCQX: ORZCF) is a Canadian development company which owns a 90% interest in Bomboré, one of the largest undeveloped gold deposits in Burkina Faso. The 2019 feasibility study highlights Bomboré as an attractive shovel-ready gold project with forecasted annual gold production of 118,000 ounces over a 13+ year mine life at an All-In Sustaining Cost of US$730/ounce with an after-tax payback period of 2.5 years at an assumed gold price of US$1,300/ounce. Current Bomboré mineral resources are in excess of 5 million ounces of gold. Orezone is fully funded to bring Bomboré into production with the first gold pour scheduled for Q3-2022. Patrick Downey,President and Chief Executive Officer Vanessa PickeringManager, Investor Relations Tel: 1 778 945 8977 / Toll Free: 1 888 673 [email protected] /www.orezone.com For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This new...