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Orezone Announces Completion of Initial Public Offering on ASX

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

VANCOUVER, British Columbia, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX:ORE, OTCQX:ORZCF) (the "Company" or "Orezone") is pleased to announce that it has completed its initial public offering on the Australian Securities Exchange ("ASX") consisting of the issuance of 65,789,474 CHESS Depository Interests ("CDIs") over fully paid common shares in the capital of the Company ("Shares") at an offer price of A$1.14 per CDI to raise gross proceeds of A$75.0 million ("Offer"). Each CDI represents a beneficial interest in one Share.

The admission of Orezone to the official list of the ASX and the quotation of its CDIs are nearing completion and subject to the satisfaction of ASX's remaining listing conditions. Trading in CDIs on the ASX is expected to commence on a normal settlement basis on August 8, 2025 under the ASX code "ORE".

The net proceeds of the Offer will be used for the ongoing advancement of stage 2 of the hard rock expansion, including procurement of mechanical and electrical equipment, freight to site, engineering design, construction, and commissioning, as well as ongoing exploration at the Bomboré Mine, in addition to administration and working capital purposes.

Patrick Downey, President and CEO stated, "The strong demand and support from new institutional and retail investors are a testament to the quality and potential of the Bomboré Mine, our experienced team, and the Company's compelling growth outlook towards achieving an expanded gold production profile of 220,000 to 250,000 ounces per annum. I would like to thank all those who have contributed to the success of the IPO and ASX listing.

In parallel to advancing stages 1 and 2 of the hard rock plant, we intend to continue expanding our exploration efforts, with the goal of increasing the project's current stated 5 million ounce global resource base to a targeted 7 to 10 million ounces longer term. We look forward to delivering on our multiple growth initiatives and generating long-term value for all shareholders."

Canaccord Genuity (Australia) Limited ("Canaccord") acted as the lead manager, bookrunner and underwriter to the Offer pursuant to the terms of the underwriting agreement ...