Business
Resource Capital Fund VII L.P. Sells Shares of Orezone Gold Corporation
DENVER, April 28, 2025 (GLOBE NEWSWIRE) -- Resource Capital Fund VII L.P. (“ RCF  ...
About this update from Orezone Gold Corporation
[{"type":"text","content":"Resource Capital Fund VII L.P. Sells Shares of Orezone Gold Corporation\n\n\n\n DENVER, April 28, 2025 (GLOBE NEWSWIRE) -- Resource Capital Fund VII L.P. (“\n \n RCF\n \n ”) reports that it has filed an early warning report under National Instrument 62-103 –\n \n The Early Warning System and Related Take-Over Bid and Insider Reporting Issues\n \n in connection to its shareholdings in Orezone Gold Corporation (\n \n TSX: ORE\n \n ) (the “\n \n Company\n \n ” or “\n \n Orezone\n \n ”).\n \n\n On April 17, 2025, RCF sold 40,000,000 common shares in the capital of Orezone (the “\n \n Orezone Shares\n \n ”) at a price of C$1.15 per Orezone Share. The trade was executed through the facilities of the Toronto Stock Exchange, through Canaccord Genuity Corp. (the “\n \n Sale\n \n ”). The net proceeds received by RCF in respect of the Sale was C$45,655,000.\n \n\n Immediately prior to the Sale, RCF owned and controlled a total of 72,415,660 Orezone Shares, representing approximately 13.75% of the issued and outstanding Orezone Shares. As a result of and immediately following the Sale, RCF owned and controlled a total of 32,415,660 Orezone Shares, representing approximately 6.16% of the issued and outstanding Orezone Shares.\n \n\n RCF also holds a US$25 million convertible debenture, previously issued by the Company on October 15, 2021 and amended on December 20, 2024 (the “\n \n Amended Debenture\n \n ”). Pursuant to the terms of the Amended Debenture, RCF may elect to convert the outstanding principal amount of the Amended Debenture into Orezone Shares at a conversion price of US$0.70 per Orezone Share (the “\n \n Conversion Price\n \n ”), in accordance with the terms set out in the Amended Debenture.\n \n\n Immediately prior to the Sale, assuming the conversion in whole of the principal amount of the Amended Debenture at the Conversion Price, RCF would have come to own an aggregate of 108,129,946 Orezone Shares, representing approximately 19.23% of the issued and outstanding Orezone Shares. As a result of and immediately following the Sale, assuming the conversion in whole of the principal amount of the Amended Debenture at the Conversion Price, RCF would come to own an aggregate of 68,129,946 Orezone Shares, representing approximate...