Orezone Closes Private Placement, Updates Timing of Transaction with IAMGOLD
03 1월 2009 - 5:32AM
Marketwired
Orezone Resources Inc. (TSX: OZN) (AMEX: OZN) announces that is has
closed its previously announced financing whereby IAMGOLD
Corporation (TSX: IMG) (NYSE: IAG) has purchased 71.4 million
common shares of Orezone, on a private placement basis, at a price
of Cdn$0.28 per share for total proceeds of approximately Cdn$20
million. IAMGOLD now holds approximately 16.6% of the outstanding
common shares of Orezone. Orezone will use $10 million of the
proceeds to continue development of the Essakane project and $10
million will be used to fund a new exploration company that will
hold the non Essakane assets of Orezone and is being "spun out" to
Orezone shareholders pursuant to the previously announced business
combination between Orezone and IAMGOLD.
Orezone also announces that it has called a special meeting of
shareholders, to be held on February 18, 2009 in Toronto, to
consider and if thought fit to approve, the business combination
under which Orezone shareholders will receive 0.08 common shares of
IAMGOLD plus a pro rata share of the new exploration company for
each Orezone share held. A notice of the special meeting and
accompanying management information circular and other materials
are expected to be mailed on or about January 21, 2009. The
transaction is expected to close by the end of February 2009.
Orezone is an explorer and emerging gold producer that owns
Essakane and Bombore, the two largest gold deposits in Burkina
Faso, West Africa. Orezone also has a pipeline of developing
projects, all located in politically stable areas of West Africa,
one of the world's fastest growing gold-producing regions.
Orezone's mission is to create wealth by discovering and developing
the earth's resources in an efficient and responsible manner.
FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This
news
release contains certain "forward-looking statements" within the
meaning of Section 21E of the United States Securities Exchange Act
of 1934, as amended, and "forward-looking information" 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 and forward-looking
information in this new release include statements with respect to
the completion of the plan of arrangement, development of the
Essakane project and the creation of New Orezone.
Forward-looking statements are based on certain assumptions,
opinions and estimates of management at the date the statements are
made, and are subject to a variety of risks and uncertainties that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. The assumptions
include that contracted parties provide goods and/or services on
the agreed timeframes, that equipment necessary for the drilling
program is available as scheduled, that no labour shortages or
delays are incurred, that no material adverse change occurs to
either Orezone or IAMGOLD, that court and regulatory approvals are
received in a timely manner. Factors that could cause the
forward-looking statements and forward-looking information to
differ materially in actuality include the failure of contracted
parties to perform as contracted and the failure of equipment. 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.
Readers are advised that National Instrument 43-101 of the
Canadian Securities Administrators requires that each category of
mineral reserves and mineral resources be reported separately.
Readers should refer to the annual information form of Orezone for
the year ended December 31, 2007, and other continuous disclosure
documents filed by Orezone since January 1, 2008 available at
www.sedar.com, for this detailed information, which is subject to
the qualifications and notes set forth therein.
Cautionary Note to United States Investors Concerning Estimates
of Measured, Indicated and Inferred Resources: This press release
uses the terms "Measured", "Indicated" and "Inferred" Resources.
United States investors are advised that while such terms are
recognized and required by Canadian regulations, the United States
Securities and Exchange Commission does not recognize them.
"Inferred Mineral Resources" have a great amount of uncertainty as
to their existence, and as to their economic and legal feasibility.
It cannot be assumed that all or any part of an Inferred Mineral
Resource will ever be upgraded to a higher category. Under Canadian
rules, estimates of Inferred Mineral Resources may not form the
basis of feasibility or other economic studies. United States
investors are cautioned not to assume that all or any part of
Measured or Indicated Mineral Resources will ever be converted into
Mineral Reserves. United States investors are also cautioned not to
assume that all or any part of an Inferred Mineral Resource exists,
or is economically or legally mineable.
Contacts: Orezone Resources Inc. Ron Little, CEO 613-241-3699 or
Toll Free: 1-888-673-0663 rlittle@orezone.com Orezone Resources
Inc. Janet Eastman, Manager IR 613-241-3699 or Toll Free:
1-888-673-0663 jeastman@orezone.com
Orezone (AMEX:OZN)
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Orezone (AMEX:OZN)
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