Common Contracts

UNDERWRITING AGREEMENT

Underwriting Agreement • January 14th, 2020 • British Columbia

• Contract Type
  Underwriting Agreement
• Filed
  January 14th, 2020
• Jurisdiction
  British Columbia

We understand that Orezone Gold Corporation (the “Company”) intends to issue and sell 37,100,000 units of the Company (each, a “Unit”) at a price of $0.54 per Unit (the “Issue Price”) for aggregate gross proceeds to the Company of $20,034,000. Each Unit is comprised of one common share (“Common Share”) of the Company (each, a “Unit Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”, and each Common Share issuable upon exercise of a Warrant, a “Warrant Share”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.80 for a period of 36 months following the Closing Date (as defined below), subject to adjustment in certain circumstances, and will have the terms set out in the Warrant Indenture (as defined below). The aggregate of 37,100,000 Units are referred to herein as the “Purchased Units”.