$26.9 Million sale of Sega worth $0.30/sh in cash and stock.

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$26.9 Million sale of Sega worth $0.30/sh in cash and stock.

in response to

Orezone Sells Sega Project to Cluff Gold for $29.6M

Been There

posted on Feb 03, 2012 02:21PM

The $26.9 Million sale of Sega is worth $0.30/sh in cash and Cluff Gold stock. The transaction is for $15M in cash and 11M new common shares of Cluff. With $29 million in cash on hand at the end of Dec 31, 2011 the additional $15 million brings ORE's cash on hand to $44 million. A significant increase in cash that should differ any concerns about near term PP dilution.

As of 2 pm ORE was trading up $0.19 at $2.94/sh. CFG was trading at $1.30 with a 1.35/1.50 Bid/Ask.

.... Been There

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