SUN VALLEY, April 4, 2016 - Sun Valley Gold LLC ("Sun Valley") announced today that it has acquired control and direction over an aggregate of 3,800,000 common shares ("Common Shares") of Orezone Gold Corporation ("Orezone") on behalf of client accounts, including Sun Valley Gold Master Fund, Ltd. (the "Master Fund"), over which it has discretionary trading authority. The Common Shares were acquired pursuant to a private placement on March 30, 2016 for a purchase price of $0.50 per share.
Following completion of the acquisition described above, Sun Valley exercises control and direction over an aggregate of 25,337,033 Common Shares for and on behalf of client accounts, representing approximately 19.90% of the issued and outstanding Common Shares. The Master Fund beneficially owns 15,077,932 Common Shares, representing approximately 11.84% of the issued and outstanding Common Shares.
The securities of Orezone were acquired for investment purposes. Sun Valley and the Master Fund may increase or decrease their ownership of securities of Orezone depending upon future market conditions.
FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW:
Linda J. Kish, Chief Legal Officer, Sun Valley Gold LLC Tel: (208) 726-2399 Fax: (208) 726-0842
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SUN VALLEY, April 4, 2016 - Sun Valley Gold LLC ("Sun Valley") announced today that it has acquired control and direction over an aggregate of 3,800,000 common shares ("Common Shares") of Orezone Gold Corporation ("Orezone") on behalf of client accounts, including Sun Valley Gold Master Fund, Ltd. (the "Master Fund"), over which it has discretionary trading authority. The Common Shares were acquired pursuant to a private placement on March 30, 2016 for a purchase price of $0.50 per share.
