Orezone Obtains Final Court Approval for IAMGOLD Transaction
February 20 2009 - 11:58AM
Marketwired
IAMGOLD Corporation (TSX: IMG)(NYSE: IAG)(BOTSWANA: IAMGOLD) and
Orezone Resources Inc. (TSX: OZN)(NYSE Alternext US: OZN)
("Orezone") jointly announced today that the Ontario Superior Court
of Justice has issued a final order approving the terms of the
arrangement with IAMGOLD.
Under the terms of the arrangement, Orezone shareholders will
receive 0.08 common shares of IAMGOLD plus 0.125 of a share of the
new exploration company, Orezone Gold Corporation, for each Orezone
share held. The TSX has conditionally approved the listing of
Orezone Gold Corporation under the ticker symbol "ORG".
The arrangement is expected to close on February 25, 2009.
FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION
This news release contains certain "forward-looking statements"
within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended, and "forward-looking information"
within the meaning of applicable Canadian securities laws.
Forward-looking statements and forward-looking information are
frequently characterized by words such as "plan," "expect,"
"project," "intend," "believe," "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking statements and
forward-looking information in this new release include statements
with respect to the completion of the plan of arrangement, receipt
of court and shareholder approvals, development of the Essakane
project and the listing of Orezone Gold Corporation.
Forward-looking statements are based on certain assumptions,
opinions and estimates of management at the date the statements are
made, and are subject to a variety of risks and uncertainties that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. The assumptions
include that contracted parties provide goods and/or services on
the agreed timeframes, that equipment necessary for the drilling
program is available as scheduled, that no labour shortages or
delays are incurred, that no material adverse change occurs to
either Orezone or IAMGOLD, that shareholder, court and regulatory
approvals are received in a timely manner. Factors that could cause
the forward-looking statements and forward-looking information to
differ materially in actuality include the failure of contracted
parties to perform as contracted and the failure of equipment.
Orezone and IAMGOLD undertake no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to
place undue reliance on forward-looking statements.
Readers are advised that National Instrument 43-101 of the
Canadian Securities Administrators requires that each category of
mineral reserves and mineral resources be reported separately.
Readers should refer to the annual information form of Orezone for
the year ended December 31, 2007, and other continuous disclosure
documents filed by Orezone since January 1, 2008 available at
www.sedar.com, for this detailed information, which is subject to
the qualifications and notes set forth therein.
Contacts: IAMGOLD Corporation Joseph F. Conway President &
CEO (416) 360-4712 or Toll-Free: 1-888-IMG-9999 Email:
jconway@iamgold.com IAMGOLD Corporation Elaine Ellingham SVP,
Investor Relations & Communications (416) 360-4743 or
Toll-Free: 1-888-IMG-9999 Email: eellingham@iamgold.com Orezone
Resources Inc. Ron Little Chief Executive Officer (613) 241-3699 or
Toll-Free: 1-888-673-0663 Email: rlittle@orezone.com Orezone
Resources Inc. Janet Eastman Manager, Investor Relations (613)
241-3699 or Toll-Free: 1-888-673-0663 Email:
jeastman@orezone.com
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