newsfilter
← Latest News
GlobeNewswire·

Allied Gold Announces Closing of Strategic Investment by Zijin Gold

AAUC
  • Allied Gold Corporation closed a strategic investment by Zijin Gold International Company Limited via a non-brokered private placement of 12,800,000 common shares at C$32.55 per share.
  • The transaction generated aggregate gross proceeds of C$416,640,000 for Allied Gold.
  • Net proceeds will fund operational optimizations, the completion & ramp-up of the Kurmuk project, phased expansion of Sadiola, production increases at the CDI Complex, & exploration efforts.
  • Following the investment, Zijin Gold holds approximately 9.2% of Allied Gold's issued shares & retains customary participation & top-up rights to maintain its pro rata interest until ownership falls below 5% on a non-diluted basis.
  • The issued shares are subject to a statutory hold period of four months & one day ending December 11, 2026.
  • Allied Gold's Chairman, CEO, & Vice Chairman voluntarily entered into lock-up agreements for the same four-month period as Zijin Gold's statutory hold period.
  • Allied Gold operates three producing assets & development projects in Côte d'Ivoire, Mali, & Ethiopia, with plans to become a mid-tier next-generation gold producer in Africa.