Business
Allied Gold Announces Closing of Business Combination and Going Public Transaction
Concurrent financing of ~US$267 million to aid in facilitating the next phase of growth for Allied Gold - from a fast-growing, mid-tier, Africa-focused gold pro
About this update from Allied Gold Corporation
[{"type":"text","content":"Concurrent financing of ~US$267 million to aid in facilitating the next phase of growth for Allied Gold - from a fast-growing, mid-tier, Africa-focused gold producer to a next generation senior gold producer Toronto, Ontario--(Newsfile Corp. - September 7, 2023) - Allied Gold Corporation (formerly, Mondavi Ventures Ltd.) (\"Allied Gold\") is pleased to announce the closing of its previously announced business combination and reverse take-over transaction (the \"Transaction\") involving, inter alios, Allied Gold Corp Limited (\"Allied\") and Allied Merger Corporation (\"AMC\"), pursuant to which, among other things, the former securityholders of Allied and AMC were issued securities in the capital of Allied Gold. Expected to commence on September 11, 2023, the common shares of Allied Gold (the \"Common Shares\") will trade on the Toronto Stock Exchange (the \"TSX\") in Canadian dollars under the symbol \"AAUC\" and the convertible debentures of Allied Gold (the \"Debentures\") will trade on the TSX in U.S. dollars under the symbol \"AAUC.DB.U\". As of the date hereof, Allied Gold has an aggregate of 250,724,253 Common Shares and $107,279,000 principal amount of Debentures issued and outstanding. In connection with the completion of the Transaction, the Subscription Receipts issued by AMC pursuant to its previously announced private placement financing (the \"Financing\") of: (a) 81,219,000 common share subscription receipts (the \"CS Subscriptions Receipts\") at a price of US$1.97 per CS Subscription Receipt; and (b) 107,279 convertible debenture subscription receipts (the \"CD Subscriptions Receipts\", and together with the CS Subscription Receipts, the \"Subscription Receipts\") at a price of US$1,000 per CD Subscription Receipt, were converted and immediately exchanged for Common Shares and Debentures, respectively, following a consolidation by AMC of its common shares on a 1:2.2585 basis. Net proceeds from the Financing will be used by Allied Gold to carry out its planned growth strategy, including its ongoing optimization and development work, as well as for general corporate purposes. The management of Allied Gold will be led by Peter Marrone (Chairman and Chief Executive Officer), Daniel Racine (President), Jason LeBlanc (Chief Financial Officer), Gerardo Fernandez (Chief Development Officer), Basie Maree (Chief Opera...