Orezone Gold Secures Funding through Private Placement with Nioko
VANCOUVER, British Columbia — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF), commonly known as Orezone, has successfully closed a significant private placement with Nioko Resources Corporation. This strategic move allows Nioko to maintain a 19.6% ownership stake in Orezone, highlighting their commitment to the company.
Details of the Private Placement
Following an earlier announcement in March, Orezone revealed that Nioko subscribed for 10,719,659 common shares at a price of C$0.82 per share. This private placement, which is not brokered, signifies a strong partnership and shared vision between the two companies.
Utilization of Proceeds
The funds raised from this private placement will be instrumental in accelerating the hard rock expansion at Orezone's flagship Bomboré Gold Mine. The capital will enable the company to focus on stage 2 of the expansion, which is expected to significantly enhance gold production levels.
Supporting Exploration and Operations
In addition to furthering the Bomboré project, the proceeds will also support ongoing exploration activities, working capital needs, and general corporate purposes, positioning Orezone for sustained growth moving forward.
About Orezone Gold Corporation
Orezone Gold is a prominent West African gold producer dedicated to mining and exploring its flagship Bomboré Gold Mine located in Burkina Faso. The mine achieved commercial production in December 2022 and is set to undergo substantial expansions aimed at increasing annual production.
Commitment to Sustainability
Orezone is led by a team with a robust track record in project management, social responsibility, and sustainability. Their approach ensures that both economic and environmental factors are prioritized throughout their operations.
Contact Information
If you would like to learn more about Orezone Gold Corporation and its initiatives, you can reach out to:
Patrick Downey
President and Chief Executive Officer
Kevin MacKenzie
Vice President, Corporate Development and Investor Relations
Tel: 1 778 945 8977
Email: info@orezone.com
Frequently Asked Questions
What is the purpose of the private placement announced by Orezone?
The private placement aims to raise funds to accelerate the hard rock expansion at the Bomboré Gold Mine and support ongoing exploration and operational needs.
Who is Nioko Resources Corporation?
Nioko Resources is a partner of Orezone Gold that has invested significantly in the company to maintain its ownership stake and support its projects.
What does the future hold for Orezone Gold Corporation?
Orezone's focus on expanding its production capacity and pursuing sustainable mining practices positions it for a strong growth trajectory in the gold mining sector.
How can investors learn more about Orezone’s projects?
Investors interested in Orezone can find detailed information on their official website or contact the company directly through the provided contact details.
What is Orezone's commitment to sustainability?
Orezone Gold Corporation prioritizes social responsibility and environmental stewardship in its operations, ensuring sustainable practices throughout its mining activities.
