Orezone Updates Status of Shareholder Vote
13 2월 2009 - 8:04AM
Marketwired
Orezone Resources Inc. (TSX: OZN)(NYSE ALTERNEXT: OZN) is pleased
to announce preliminary proxy results with respect to the special
meeting to be held on February 18, 2009 in Toronto to consider the
previously announced plan of arrangement with IAMGOLD Corporation
(TSX: IMG)(NYSE: IAG). As at February 11, 2009, proxies
representing 41.63% of the outstanding Orezone shares had been
deposited, of which 99.90% had been voted in favor of the
arrangement. Under the arrangement, Orezone shareholders will
receive 0.08 common shares of IAMGOLD plus 0.125 common shares of a
new exploration company, Orezone Gold Corporation, for each Orezone
share held. Pending receipt of shareholder approval and the
approval of the Ontario Superior Court of Justice, the arrangement
is expected to close on February 25, 2009.
IAMGOLD has also agreed to invest up to C$7,000,000 in the
Orezone subsidiary that holds the rights to the Essakane Project in
exchange for a maximum 2% interest in the subsidiary. The funds
will be invested to continue the timely development of the Essakane
Project pending completion of the arrangement. IAMGOLD currently
holds 16.6% of the outstanding shares of Orezone and will not
obtain any further voting rights at the special meeting as a result
of the placement. If the arrangement with IAMGOLD is not completed,
IAMGOLD will have the right to put the purchased shares back to
Orezone and Orezone shall have the option of paying the invested
amount in cash or in Orezone shares.
Orezone is an explorer and emerging gold producer that owns
Essakane and Bombore, the first and third 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, receipt of court and
shareholder approvals, 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 shareholder, 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.
The securities being offered have not, nor will they be
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons absent U.S.
registration or an applicable exemption from the U.S. registration
requirements. This release does not constitute an offer for sale of
securities in the United States.
Contacts: Orezone Resources Inc. Ron Little, CEO 613-241-3699 or
Toll Free: 888-673-0663 rlittle@orezone.com Orezone Resources Inc.
Janet Eastman, Manager IR 613-241-3699 or Toll Free: 888-673-0663
jeastman@orezone.com
Orezone (AMEX:OZN)
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Orezone (AMEX:OZN)
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