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RCF Personal Fairness Fund I L.P. (previously, Useful resource Capital Fund VII L.P.) (” RCF “) stories that it has filed an early warning report beneath Nationwide Instrument 62-103 The Early Warning System and Associated Take-Over Bid and Insider Reporting Points in connection to its shareholdings in Orezone Gold Company ( TSX: ORE,OTC:ORZCF ) (the ” Firm ” or ” Orezone “).
On October 7, 2025, and October 8, 2025 RCF bought 1,001,400 widespread shares within the capital of Orezone (the ” Orezone Shares “) at a value of C$1.61 and 16,000,000 Orezone Shares, respectively, at a value of C$1.50 per Orezone Share (collectivly the ” Gross sales “). The trades have been executed by the amenities of the Toronto Inventory Change. The online proceeds acquired by RCF in respect of the sale on October 7, 2025 was C$1,605,804.98, and the online proceeds acquired by RCF in respect of the sale on October 8, 2025 was C$23,820,000, for mixture web proceeds of C$25,425,804.98.
Instantly previous to the Gross sales, RCF owned and managed a complete of 32,415,660 Orezone Shares, representing roughly 5.42% of the issued and excellent Frequent Shares. Because of and instantly following the Gross sales, RCF owned and managed a complete of 15,414,260 Frequent Shares, representing roughly 2.58% of the issued and excellent Orezone Shares.
RCF additionally holds a US$25 million convertible debenture, beforehand issued by the Firm on October 15, 2021 and amended on December 20, 2024 (the ” Amended Debenture “). Pursuant to the phrases of the Amended Debenture, RCF might elect to transform the excellent principal quantity of the Amended Debenture into Orezone Shares at a conversion value of US$0.70 per Orezone Share (the ” Conversion Value “), in accordance with the phrases set out within the Amended Debenture.
Instantly previous to the Gross sales, assuming the conversion in entire of the principal quantity of the Amended Debenture on the Conversion Value, RCF would have come to personal an mixture of 68,129,946 Orezone Shares, representing roughly 10.75% of the issued and excellent Orezone Shares. Because of and instantly following the Gross sales, assuming the conversion in entire of the principal quantity of the Amended Debenture on the Conversion Value, RCF would come to personal an mixture of 51,128,546 Orezone Shares, representing roughly 8.07% of the issued and excellent Orezone Shares.
RCF disposed of the Orezone Shares in accordance with RCF’s funding coverage to generate proceeds from its funding in Orezone. RCF might every now and then purchase extra securities of Orezone, get rid of some or the entire present or extra securities or might proceed to carry the securities of Orezone.
The Firm’s head workplace is situated at Suite 450 – 505 Burrard Avenue, Vancouver, British Columbia V7X 1M3.
To acquire a duplicate of the early warning report filed beneath relevant Canadian securities legal guidelines in reference to the transactions hereunder, please see the Firm’s profile on the SEDAR+ web site at www.sedarplus.ca.
About RCF Personal Fairness Fund I L.P.
RCF is a non-public funding fund present beneath the legal guidelines of the Cayman Islands. RCF is in the end managed by RCF Administration LLC. For additional info and to acquire a duplicate of the early warning report, please contact:
RCF Personal Fairness Fund I L.P.
1400 Wewatta Avenue, Suite 850
Denver, Colorado, 80202
Phone: (720) 946-1444
Attn: Mason Hills
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