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Resource Capital Fund VII L.P. Announces Acquisition of Securities in Orezone Gold Corporation
Resource Capital Fund VII L.P. Announces Acquisition of Securities in Orezone Gold Corpora...
About this update from Orezone Gold Corporation
[{"type":"text","content":"\n\n\n\nResource Capital Fund VII L.P. Announces Acquisition of Securities in Orezone Gold Corporation\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nDENVER, Jan. 29, 2020\n\n\n\nDENVER, Jan. 29, 2020 /CNW/ - Resource Capital Fund VII L.P. (\"RCF\") reports that on January 29, 2020, it acquired 8,113,200 Units (the \"Units\") of Orezone Gold Corporation (TSXV: ORE) (the \"Company\" or \"Orezone\") in the Company's bought deal equity financing (the \"Offering\"), as previously announced by Orezone on January 8, 2020.  The Units consist of one common share of the Company (each, a \"Common Share\") and one half of one Common Share purchase warrant of the Company (each whole warrant, a \"Warrant\").  Each Warrant is exercisable for a period of 36 months following closing of the Offering at a price of C$0.80 per share.  RCF acquired the Units at a price of C$0.54 per Unit, for a total price of C$4,381,128.\nRCF may not exercise its Warrants without the prior approval of the TSXV if the exercise would result in RCF holding 20% or more of the Company's issued and outstanding Common Shares.\nPrior to the acquisition of the Units, RCF owned and controlled 42,056,250 Common Shares representing approximately 19.71% of the Company's then 213,376,906 issued and outstanding Common Shares.\nImmediately following the Offering, RCF owns and controls 50,169,450 Common Shares, representing 19.99% of the 250,972,806 currently issued and outstanding shares.  RCF also owns and controls 4,056,600 Warrants, which are subject to the above restriction on exercise.  If the restriction on exercise of the Warrants is removed, RCF would own or control approximately 21.61% of the current issued and outstanding Common Shares on a partially diluted basis (assuming exercise of all of the restricted Warrants).\nRCF acquired the Units for investment purposes. RCF may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of the Company.\nOrezone's...