- Orezone Gold Corporation (ORE) has announced a C$16.5 million private placement with a large institutional fund
- Orezone Gold will issue 13,000,000 common shares at a share price of C$1.27
- The offering is expected to close on or about March 8, 2023 and proceeds will be used for project development and ongoing exploration
- Orezone Gold is a Canadian mining company operating the open pit Bomboré Gold Mine
- Orezone Gold Corporation (ORE) opened trading at C$1.27
Orezone Gold Corporation (ORE) has announced a C$16.5 million private placement with a large institutional fund.
Under the offering, Orezone Gold will issue 13,000,000 common shares at a share price of C$1.27.
The net proceeds will be used for accelerated project development, ongoing exploration and general corporate purposes.
Patrick Downey, President & CEO, commented on the capital raise.
“We are extremely pleased to attract another high-quality fund to the Orezone growth story. While Q1-2023 is shaping up to be a strong quarter, we view the Offering as an opportunity to add another cornerstone investor and advance several strategic initiatives. These initiatives include accelerated project development at Bomboré ahead of the Phase II sulphide expansion, additional targeted exploration drilling, and advancement of Orezone’s corporate growth strategy in the region”.
The offering is expected to close on or about March 8, 2023, subject to the receipt of all applicable regulatory approvals.
All shares issued will be subject to a statutory four-month hold period from the date of closing. A finder’s fee is payable in connection with the offering.
Orezone Gold is a Canadian mining company operating the open pit Bomboré Gold Mine in Burkina Faso.
Orezone Gold Corporation (ORE) opened trading at C$1.27.