Sun Valley Gold LLC

July 10, 2012 17:09 ET

Sun Valley Gold LLC: Control and Direction Over Common Shares of Orezone Gold Corporation

SUN VALLEY, IDAHO--(Marketwire - July 10, 2012) - Sun Valley Gold LLC ("Sun Valley") announced today that it has acquired control and direction over 3,654,500 common shares ("Common Shares") of Orezone Gold Corporation ("Orezone") on behalf of client accounts, including the Sun Valley Gold Master Fund, Ltd. (the "Master Fund"), over which it has discretionary trading authority. The Common Shares were acquired in the open market at a price of $1.30 per share. Of the 3,654,500 Common Shares over which Sun Valley acquired control and direction, 3,248,850 were acquired on behalf of the Master Fund.

Following completion of the acquisition described above, Sun Valley exercises control and direction over an aggregate of 12,024,600 Common Shares, representing approximately 14.04% of the issued and outstanding Common Shares, and the Master Fund beneficially owns 9,327,158 Common Shares, representing approximately 10.89% of the issued and outstanding Common Shares.

The sole holders of the common shares of the Master Fund are Sun Valley Gold International, Ltd., of which Sun Valley is the Investment Manager, and Sun Valley Gold, L.P., of which Sun Valley is the General Partner. Sun Valley manages investment accounts for the Master Fund, and has discretionary trading authority over the securities of Orezone issued to the Master Fund.

The securities of Orezone were acquired for investment purposes. Sun Valley and the Master Fund may increase or decrease their ownership of securities of Strongbow depending upon future market conditions.

FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY AND THE MASTER FUND UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW.

Contact Information

  • Sun Valley Gold LLC
    Linda J. Kish
    Chief Legal Officer
    (208) 726-2399
    (208) 726-0842 (FAX)