Orezone Gold Completes Significant Financing
In an exciting development for investors and stakeholders, Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) has successfully completed a C$35 million bought deal financing. This strategic move is poised to significantly enhance the company's capabilities and growth prospects in the gold mining sector.
Details of the Financing Deal
The total financing involved the issuance of 42,683,000 common shares at a price of C$0.82 per share, generating aggregate gross proceeds of C$35,000,060. Canaccord Genuity Corp. acted as the sole underwriter, leading the deal with expertise in capital markets. The response from the market reflects strong support for Orezone’s initiatives, particularly its expansion plans.
Use of Proceeds for Growth
The funds raised will be directed towards critical projects, including the Stage II hard rock expansion and further exploration efforts at the Bomboré Gold Mine. This mine, which is the company's flagship operation, has shown potential for increasing its annual and overall gold production significantly, thus creating a robust growth trajectory.
Understanding the Overview of Orezone Gold
Orezone Gold Corporation is a leading gold producer based in West Africa, with a strong focus on its Bomboré Gold Mine in Burkina Faso. The mine recently achieved commercial production from its oxide operations and is currently advancing towards a staged hard rock expansion. This expansion is expected to significantly boost both annual and life-of-mine gold production from the extraction of hard rock mineral reserves.
Commitment to Sustainable Practices
Orezone is not just focused on production; the company is led by a team that prioritizes social responsibility and sustainability. With a proven track record in project construction and management, Orezone aims to enhance its operational efficiency while contributing positively to the surrounding communities and environment. The emphasis on responsible mining highlights the company’s commitment to operational integrity and sustainability.
Anticipated Benefits from the Financing
The proceeds from this financing will also assist in covering working capital needs and various corporate purposes. This financial bolstering is vital as Orezone progresses through crucial stages of its operational plans, ensuring not only stability but also the capable execution of its projects.
Technical Insights on Bomboré Mine Expansion
A technical report detailing the Bomboré Phase II expansion has been made available, outlining the feasibility and expected outcomes of the expansion efforts. This transparency reinforces the company's commitment to informing its stakeholders and investors about its plans and projections.
Future Outlook and Shareholder Value
As Orezone Gold Corporation moves forward with these financing efforts, the outlook remains optimistic. Investors and analysts are keenly watching the progress of the Bomboré Gold Mine's expansion, anticipating increases in gold production that will ultimately contribute to shareholder value and enhance the company’s market position.
Contact Information for Stakeholders
Stakeholders and interested parties can reach out to Orezone Gold Corporation for further inquiries. The company maintains an open line for communication through its executive team.
Patrick Downey
President and Chief Executive Officer
Kevin MacKenzie
Vice President, Corporate Development and Investor Relations
Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
Email: info@orezone.com
Website: www.orezone.com
Frequently Asked Questions
What is Orezone Gold Corporation?
Orezone Gold Corporation is a gold mining company focused on the exploration and production of its flagship Bomboré Gold Mine in West Africa.
How much did Orezone raise through the financing?
Orezone raised C$35 million through the sale of 42,683,000 common shares at C$0.82 per share.
What will the proceeds from the financing be used for?
The proceeds will be used to accelerate the hard rock expansion at the Bomboré Gold Mine, additional exploration activities, and for general corporate purposes.
Who acted as the underwriter for this financing?
Canaccord Genuity Corp. acted as the sole underwriter for Orezone's bought deal financing.
How can I get in touch with Orezone Gold Corporation?
You can contact Orezone at 1 778 945 8977 or visit their website at www.orezone.com for more information.
