Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) is pleased to announce the completion of its previously announced non-brokered private placement of 92,743,855 common shares at C$0.70 per share for gross proceeds of approximately C$64.9 million (US$47.4 million) with Nioko Resources Corporation.

The net proceeds of the Equity Financing will be used together with the previously announced US$58 million senior secured term loan with Coris Bank International to fully finance the construction of the Phase II hard rock expansion at the Bomboré Gold Mine.

All common shares issued pursuant to the Equity Financing will be subject to a four-month hold period from the date of closing. No commission or broker fees are payable in connection with the Equity Financing.

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

About Orezone Gold Corporation

Orezone Gold Corporation is a West African gold producer engaged in mining, developing, and exploring its flagship Bomboré Gold Mine in Burkina Faso. The Bomboré mine achieved commercial production on its oxide operations on December 1, 2022, and is now focused on its staged hard rock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves. Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financing, capital markets and M&A.

The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.