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Orezone Gold Completes C$35 Million Bought Deal Financing

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, British Columbia, March 13, 2025 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX:ORE, OTCQX:ORZCF) (the "Company" or "Orezone") is pleased to announce that it has completed its previously announced bought deal financing (the "Offering"), pursuant to which the Company issued a total of 42,683,000 common shares of the Company (the "Shares") at a price of C$0.82 per Share (the "Offering Price") for aggregate gross proceeds of C$35,000,060. Canaccord Genuity Corp. (the "Underwriter") acted as sole underwriter and bookrunner for the Offering.

The Company has granted the Underwriter an option to acquire up to an additional 6,402,450 Shares (the "Over-Allotment Option") at the Offering Price for additional gross proceeds of up to C$5,250,009, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the date hereof.

The Company intends to use the net proceeds from the Offering (and any proceeds received from the Over-Allotment Option) to accelerate both the Stage II hard rock expansion and additional exploration at its Bomboré Gold Mine, as well as for working capital and general corporate purposes, as further described in the Prospectus (as defined below).

The Shares were offered to the public in Canada by way of a short form prospectus dated March 7, 2025, and filed in each of the provinces of Canada (other than Quebec) (the "Prospectus"). The Shares were also offered by way of private placement in certain offshore jurisdictions and in the United States pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act").

The Shares referred to in this ...