Sun Valley Gold LLC

November 14, 2013 18:34 ET

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

SUN VALLEY, IDAHO--(Marketwired - Nov. 14, 2013) - Sun Valley Gold LLC ("Sun Valley") announced today that it has acquired control and direction over 3,600,000 common shares ("Common Shares") of Orezone Gold Corporation ("Orezone") on behalf of client accounts, including Sun Valley Gold Master Fund, Ltd. (the "Master Fund"), over which it has discretionary trading authority. The Common Shares were acquired pursuant to a private placement by Orezone of a total of 10,000,000 Common Shares for a subscription price of $0.50 per share.

Following completion of the acquisition described above, Sun Valley exercises control and direction over an aggregate of 16,994,600 Common Shares for and on behalf of client accounts, representing approximately 17.76% of the issued and outstanding Common Shares. The Master Fund beneficially owns 11,895,008 Common Shares, representing approximately 12.43% of the issued and outstanding Common Shares.

The securities of Orezone were acquired for investment purposes. Sun Valley may increase or decrease its ownership of securities of Orezone depending upon future market conditions.

FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY 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)