Orezone Gold Announces Closing of Private Placement with Nioko

Orezone Gold Announces Closing of Private Placement with Nioko

Benzinga
April 2, 2025

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, British Columbia, April 02, 2025 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX:ORE, OTCQX:ORZCF) (the "Company" or "Orezone") announces that further to its news release dated March 17, 2025, to maintain a 19.6% ownership in the Company following the recent closing of the Company's bought-deal financing, Nioko Resources Corporation has subscribed for 10,719,659 common shares on a non-brokered private placement basis at a price of C$0.82 per share (the "Private Placement").

The Company intends to use the net proceeds from the Private Placement to accelerate both stage 2 of the hard rock expansion and additional exploration at its Bomboré Gold Mine, as well as for working capital and general corporate purposes.

The Private Placement is a "related party transaction" as such term is defined by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements set out in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (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 ...

https://www.benzinga.com/pressreleases/25/04/g44613815/orezone-gold-announces-closing-of-private-placement-with-nioko

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