Orezone Gold Corporation
TSX : ORE

Orezone Gold Corporation

December 21, 2010 09:08 ET

Orezone Completes C$54 Million Financing

OTTAWA, ONTARIO--(Marketwire - Dec. 21, 2010) -

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

OREZONE GOLD CORPORATION (TSX:ORE) (the "Company" or "Orezone") is pleased to announce that it has completed its previously announced $53,906,250 equity financing (the "Offering"). A total of 14,375,000 common shares, including the exercise of the over-allotment option, have been issued today at a price of $3.75 per share to a syndicate of underwriters led by Canaccord Genuity Corp. and Desjardins Securities Inc. and including CIBC World Markets Inc., BMO Capital Markets Corp. and Raymond James Ltd. (the "Underwriters").

The common shares were sold by way of a short form prospectus in each of the provinces and territories of Canada other than Quebec. 

Orezone is a gold exploration and development company with significant gold resources in Burkina Faso and more than 15 years of operating experience in West Africa, one of the world's fastest growing gold producing regions. Orezone is focused on developing Bomboré, the second largest gold deposit in the country, and its pipeline of advanced gold projects. Orezone's mission is to create wealth by discovering and developing gold resources in an efficient and responsible manner for the benefit of its shareholders and other stakeholders.

FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements include statements with respect to the timing and completion of the Offering.

FORWARD-LOOKING STATEMENTS are based on the opinions and estimates of management at the date the statements are made, and 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. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Contact Information

  • Orezone Gold Corporation
    Ron Little
    CEO
    613-241-3699 or Toll Free: 888-673-0663
    rlittle@orezone.com
    or
    Orezone Gold Corporation
    Joe McCoy
    CFO
    613-241-3699 or Toll Free: 888-673-0663
    jmccoy@orezone.com