DENVER, Jan. 29, 2020 /CNW/ - Resource Capital Fund
VII L.P. ("RCF") reports that on January 29, 2020, it acquired
8,113,200 Units (the "Units") of Orezone Gold
Corporation (TSXV: ORE) (the "Company" or
"Orezone") in the Company's bought deal equity
financing (the "Offering"), as previously announced by
Orezone on January 8, 2020. The
Units consist of one common share of the Company (each, a
"Common Share") and one half of one Common Share purchase
warrant of the Company (each whole warrant, a
"Warrant"). Each Warrant is exercisable for a period
of 36 months following closing of the Offering at a price of
C$0.80 per share. RCF acquired
the Units at a price of C$0.54 per
Unit, for a total price of C$4,381,128.
RCF may not exercise its Warrants without the prior approval of
the TSXV if the exercise would result in RCF holding 20% or more of
the Company's issued and outstanding Common Shares.
Prior to the acquisition of the Units, RCF owned and controlled
42,056,250 Common Shares representing approximately
19.71% of the Company's then 213,376,906 issued and outstanding
Common Shares.
Immediately following the Offering, RCF owns and controls
50,169,450 Common Shares, representing 19.99% of the 250,972,806
currently issued and outstanding shares. RCF also owns and
controls 4,056,600 Warrants, which are subject to the above
restriction on exercise. If the restriction on exercise of
the Warrants is removed, RCF would own or control approximately
21.61% of the current issued and outstanding Common Shares on a
partially diluted basis (assuming exercise of all of the restricted
Warrants).
RCF acquired the Units for investment purposes. RCF may from
time to time acquire additional securities, dispose of some or all
of the existing or additional securities or may continue to hold
the securities of the Company.
Orezone's head office is located at #214 - 223 Colonnade Road
South, Ottawa, Ontario, K2E
7K3
To obtain a copy of the early warning report filed under
applicable Canadian securities laws in connection with the
transactions hereunder, please see Orezone's profile on the SEDAR
website www.sedar.com.
About Resource Capital Fund VII L.P
RCF is a private investment fund. For further information and to
obtain a copy of the early warning report, please contact:
Resource Capital Fund VII L.P
1400 Sixteenth Street, Suite 200
Denver, CO, 80202
Telephone: (720) 946-1444
Attn: Molly Campbell
SOURCE Resource Capital Fund VII L.P.