RCF to invest in Orezone Gold's $44.9 mln private offering

Ottawa-based mining company Orezone Gold Corp (TSX-V: ORE) has launched a private offering of common shares intended to raise about $44.9 million. Resource Capital Funds (RCF), a U.S. mining private equity firm, has agreed to invest, as has Coris Capital SA, a Mauritius investment firm. With the deal's close, scheduled for early April, RCF will own about 19.99 percent of the company's issued and outstanding shares and have the right to nominate two board members. Orezone said it will use the proceeds to develop its 90 percent-owned Bomboré Gold Project located in West Africa's Burkina Faso, and other priorities.

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