VANCOUVER, British Columbia, Aug. 31, 2021 (GLOBE NEWSWIRE) —
Orezone Gold Corporation (TSX.V: ORE, OTCQX: ORZCF)
(the “Company” or “Orezone”) announces that the matters, as set out in more detail in its Management Information Circular dated August 3, 2021 (the “Circular”), were considered and voted on by shareholders at the special meeting of shareholders held on August 31, 2021.
Shareholders overwhelmingly voted to approve the creation of a potential new control person of the Company, being Resource Capital Fund VII L.P. (“RCF VII”) and the issuance by the Company to RCF VII of a secured convertible debenture, each as more particularly described in the Circular. Shares beneficially owned by RCF VII were excluded from the vote as required by the TSXV.
Mr. Patrick Downey, the Company’s President and CEO, commented, “We are very pleased with the shareholder turnout and thank our shareholders for their support with 99.78% of the eligible shares voting in favour of the RCF VII resolution. With this vote secured, we now expect to close the Convertible Note Facility, the Senior Debt Facility, and the Silver Stream Agreement in September 2021”.
About Orezone Gold Corporation
Orezone Gold Corporation (TSX.V: ORE OTCQX: ORZCF) is a Canadian development company which owns a 90% interest in Bomboré, one of the largest undeveloped gold deposits in Burkina Faso.
The 2019 feasibility study highlights Bomboré as an attractive shovel-ready gold project with forecasted annual gold production of 118,000 ounces over a 13+ year mine life at an All-In Sustaining Cost of US$730/ounce with an after-tax payback period of 2.5 years at an assumed gold price of US$1,300/ounce. Bomboré is underpinned by a mineral resource base in excess of 5 million gold ounces and possesses significant expansion potential. Orezone is fully funded to bring Bomboré into production with the first gold pour scheduled for Q3-2022.
Patrick Downey
President and Chief Executive Officer
Vanessa Pickering
Manager, Investor Relations
Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
[email protected] / www.orezone.com
For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at
www.orezone.com
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain information that may constitute “forward-looking information” within the meaning of applicable Canadian Securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (together, “forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”,
“believe”,
“anticipate”,
“estimate”,
“potential”,
“possible”
and
other
similar
words,
or
statements that certain events or conditions “may”, “will”, “could”, or “should” occur.
Forward-looking statements in this press release include, but are not limited to, statements with respect to closing of the Bomboré Project debt package and the Bomboré project being fully funded to production and projected first gold by Q3-2022.
All such forward-looking statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected
future
developments,
as
well
as
other
factors
management
and
the
qualified
persons
believe
are appropriate in the
circumstances.
All forward-looking statements 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
including,
but
not
limited
to,
delays caused by the COVID-19 pandemic, terrorist or other violent attacks,
the
failure
of
parties
to
contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; social
or
labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of project cost overruns or unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel and general economic, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company’s most recent annual information form and management discussion and analysis filed on SEDAR on www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking statements.
Although the forward-looking statements contained in this press release are based upon what management
of
the
Company
believes
are
reasonable
assumptions,
the
Company
cannot
assure
investors that actual results will be consistent with these forward-looking statements. These forward-looking statements
are
made
as
of
the
date
of
this
press
release
and
are
expressly
qualified
in
their
entirety
by
this cautionary
statement.
Subject
to
applicable
securities
laws,
the
Company
does
not
assume
any
obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press
release.
