/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES./
VANCOUVER, BC, Feb. 23,
2025 /CNW/ - Orezone Gold Corporation (TSX:
ORE) (OTCQX: ORZCF) (the "Company" or
"Orezone") is pleased to announce that it has entered into
an agreement with Canaccord Genuity Corp. (the
"Underwriter"), acting as sole underwriter and bookrunner,
pursuant to which the Underwriter has agreed to purchase, on a
"bought deal" basis, 42,683,000 common shares of the Company (the
"Common Shares") at a price of C$0.82 per Common Share (the "Offering
Price"), for aggregate gross proceeds of C$35,000,060 (the "Offering").
In addition, the Company will grant the Underwriter an option to
acquire up to an additional 6,402,450 Common Shares (the
"Over-Allotment Option") at the Offering Price for
additional gross proceeds of up to C$5,250,009, exercisable in whole or in part, at
any time on or prior to the date that is 30 days following the
Closing Date (as defined herein).
The Company intends to use the net proceeds from the Offering
(and any proceeds received from the Over-Allotment Option) to
accelerate both the Stage II hard rock expansion and additional
exploration at its Bomboré Gold Mine, as well as for working
capital and general corporate purposes.
Closing of the Offering is expected to occur on or about
March 13, 2025 (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 Toronto Stock Exchange and applicable
securities regulatory authorities.
The Common Shares will be offered by way of a short form
prospectus to be filed in each of the provinces
of Canada (other than Quebec) and may also be sold
in certain offshore jurisdictions (provided that placement in such
offshore jurisdictions does not give rise to the filing of a
prospectus or registration statement or to any continuous
disclosure obligations) and by way of private placement in the
United States pursuant to an
exemption from the registration requirements of the United States
Securities Act of 1933, as amended (the "U.S. Securities Act").
The securities referred to in this news release have not been,
nor will they be, registered under the U.S. Securities Act, and may
not be offered or sold within the United
States absent U.S. registration or an applicable exemption
from the U.S. registration requirements. This news release does not
constitute an offer for sale of securities, nor a solicitation for
offers to buy any securities in the
United States, nor in any other jurisdiction in which such
offer, solicitation or sale would be unlawful. Any public offering
of securities in the United States
must be made by means of a prospectus containing detailed
information about the company and management, as well as financial
statements.
About Orezone Gold Corporation
Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a West
African gold producer engaged in mining, developing, and exploring
its flagship Bomboré Gold Mine in Burkina
Faso. The Bomboré mine achieved commercial production on its
oxide operations on December 1, 2022,
and is now focused on its staged hard rock expansion that is
expected to materially increase annual and life-of-mine gold
production from the processing of hard rock mineral reserves.
Orezone is led by an experienced team focused on social
responsibility and sustainability with a proven track record in
project construction and operations, financings, capital markets
and M&A.
The technical report entitled Bomboré Phase II Expansion,
Definitive Feasibility Study is available on SEDAR+ and the
Company's website.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain information that may
constitute "forward-looking information" within the meaning of
applicable Canadian Securities laws and "forward-looking
statements" within the meaning of applicable U.S. securities laws
(together, "forward-looking statements"). Forward-looking
statements are frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "anticipate",
"estimate", "potential", "possible" and other similar words, or
statements that certain events or conditions "may", "will",
"could", or "should" occur. Forward-looking statements
in this press release include, but are not limited to closing of
the Offering, the use of proceeds from the Offering and
regulatory and TSX approval.
All such forward-looking statements are based on certain
assumptions and analyses made by management in light of their
experience and perception of historical trends, current conditions
and expected future developments, as well as other factors
management and the qualified persons believe are appropriate in the
circumstances.
All forward-looking statements are subject to a variety of
risks and uncertainties and other factors that could cause actual
events or results to differ materially from those projected in the
forward-looking statements including, but not limited to, delays
caused by pandemics, terrorist or other violent attacks (including
cyber security attacks), the failure of parties to contracts to
honour contractual commitments, unexpected changes in laws, rules
or regulations, or their enforcement by applicable authorities;
social or labour unrest; changes in commodity prices; unexpected
failure or inadequacy of infrastructure, the possibility of
unanticipated costs and expenses, accidents and equipment
breakdowns, political risk, unanticipated changes in key management
personnel and general economic, market or business conditions, the
failure of exploration programs, including drilling programs, to
deliver anticipated results and the failure of ongoing and
uncertainties relating to the availability and costs of financing
needed in the future, and other factors described in the Company's
most recent annual information form and management discussion and
analysis filed on SEDAR+. Readers are cautioned not to place undue
reliance on forward-looking statements.
Although the forward-looking statements contained in this
press release are based upon what management of the Company
believes are reasonable assumptions, the Company cannot assure
investors that actual results will be consistent with these
forward-looking statements. These forward-looking statements are
made as of the date of this press release and are expressly
qualified in their entirety by this cautionary statement. Subject
to applicable securities laws, the Company does not assume any
obligation to update or revise the forward-looking statements
contained herein to reflect events or circumstances occurring after
the date of this press release.
SOURCE Orezone Gold Corporation
