Business
Allied Gold Announces Share Consolidation in Connection with Intention to list on the New York Stock Exchange
TORONTO, May 8, 2025 /CNW/ - Allied Gold Corporation (TSX: AAUC) (OTCQX: AAUCF) ("Allied" or the "Company") announces that, following the requisite approval of
About this update from Allied Gold Corporation
[{"type":"text","content":" TORONTO, May 8, 2025 /CNW/ - Allied Gold Corporation (TSX: AAUC) (OTCQX: AAUCF) (\"Allied\" or the \"Company\") announces that, following the requisite approval of the Company's shareholders at the 2025 Annual General and Special Meeting of Shareholders held earlier today, the Company's board of directors has approved the consolidation (the \"Consolidation\") of the Company's issued and outstanding common shares (the \"Common Shares\") on the basis of one (1) post-Consolidation Common Share for every three (3) pre-Consolidation Common Shares held. The Consolidation is being implemented in connection with the Company's application to list its Common Shares on the New York Stock Exchange (the \"NYSE\"). Subject to the review and approval of the Company's listing application and satisfaction of all applicable listing and regulatory requirements, the Company expects that the Common Shares will commence trading on the NYSE by mid-June 2025. Share Consolidation The Toronto Stock Exchange (the \"TSX\") has conditionally approved the Consolidation, which is expected to become effective on May 19, 2025 (the \"Effective Date\"), with the post-Consolidation Common Shares to commence trading on the TSX at market open on or about May 22, 2025, subject to final confirmation from the TSX. No fractional post-Consolidation Common Shares will be issued in connection with the Consolidation. Any fractional post-Consolidation Common Share arising from the Consolidation will be deemed to have been tendered by its registered owner to the Company for cancellation and no consideration. The exercise or conversion price and/or the number of Common Shares issuable under the Company's outstanding convertible securities will be proportionately adjusted in connection with the Consolidation, in accordance with the terms of such convertible securities. Upon completion of the Consolidation, the post-Consolidation Common Shares will continue to trade on the TSX under the stock symbol \"AAUC\" under a new CUSIP: 01921D204 and new ISIN: CA01921D2041. Registered shareholders of the Company holding their pre-Consolidation Common Shares in certificate form will receive a letter of transmittal from the Company's transfer agent, providing instructions for the exchange of their pre-Consolidation Common Shares as soon as practicable following the Effective...