08:49 AM EDT, 08/06/2025 (MT Newswires) -- Orezone Gold Corporation ( ORZCF ) on Wednesday announced that it has completed its initial public offering on the Australian Securities Exchange consisting of the issuance of 65,789,474 CHESS Depository Interests (CDIs) over fully paid common shares in the capital of the company at an offer price of A$1.14 per CDI to raise gross proceeds of A$75.0 million.

A statement noted that each CDI represents a beneficial interest in one share.

Wednesday's statement said 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'.

It added 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 Bombore Mine, in addition to administration and working capital purposes.

Patrick Downey, President and CEO said the "strong" demand and support from new institutional and retail investors reflects the company's "compelling growth outlook" towards achieving an expanded gold production profile of 220,000 to 250,000 ounces per annum.

In parallel to advancing stages 1 and 2 of the hard rock plant, Orezone intends to continue expanding its exploration efforts, with the goal of increasing the project's current stated five million ounce global resource base to a targeted 7-10 million ounces longer term.

ORE was up 4.6% on the TSX yesterday.