Orezone Gold Corporation press release
Tan Range Chairman Proceeds with and Completes First Tranche of New Private Placement
TSX - Toronto Stock Exchange · Gold · Silver · Canada
Trade Symbol TSX: TNX
VANCOUVER, May 9 /CNW/ - Tan Range Exploration Corporation advises that Mr. James E. Sinclair has proceeded with the first tranche of the private placement announced on January 13, 2005 whereby Mr. Sinclair agreed to purchase common shares of the Corporation representing an aggregate value of $3,000,000. Such shares are to be purchased in 8 quarterly tranches of $375,000 each, commencing February 1, 2005. The first tranche of the private placement has been approved by the Toronto Stock Exchange and has now closed. The first tranche consisted of 382,653 common shares of the Corporation having a purchase price of $0.98 per share for proceeds totaling $375,000.00. The purchase price reflects the weighted average trading price of the Corporation's shares for the five consecutive trading days of the first tranche quarterly period ended April 30, 2005. Inclusive of the proceeds of the first tranche of the new private placement, Mr. Sinclair's total share placements to date aggregate $4,325,000. The private placement common shares are subject to certain mandated hold periods and resale restrictions and the certificates representing such shares are legended accordingly. No warrants, options or other rights have been issued or granted in connection with this placement. Each tranche is subject to approval by the Toronto Stock Exchange.
On Behalf of the Board of Directors "James E. Sinclair" James E. Sinclair Chairman and Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as "measured", "indicated", and "inferred" "resources" that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 0-50634, which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.