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Allied Gold Closes C$192.2 Million Overnight Marketed Equity Offering
TORONTO, Oct. 8, 2024 /CNW/ - Allied Gold Corporation (TSX: AAUC) (OTCQX: AAUCF) ("Allied" or the "Company") is pleased to announce that it has closed its previ
About this update from Allied Gold Corporation
[{"type":"text","content":" TORONTO, Oct. 8, 2024 /CNW/ - Allied Gold Corporation (TSX: AAUC) (OTCQX: AAUCF) (\"Allied\" or the \"Company\") is pleased to announce that it has closed its previously announced overnight marketed public offering of common shares (the \"Offering\"). Pursuant to the Offering, the Company issued 62,000,000 common shares in the capital of the Company (the \"Shares\") at a price of C$3.10 per Share for aggregate gross proceeds of C$192,200,000. The Offering was completed through a syndicate of underwriters co-led by Canaccord Genuity Corp. and National Bank Financial Inc., and including CIBC Capital Markets, Stifel Nicolaus Canada Inc., BMO Capital Markets, SCP Resource Finance LP, and Hannam & Partners (collectively, the \"Underwriters\"). The Company intends to use the net proceeds of the Offering to support the funding of its optimization and growth initiatives, including in relation to all rights and obligations dealing with and allowing for continuous management, optimizations, advancements, improvements and phased expansion of the Sadiola Mine, and in respect of costs associated with the Kurmuk construction project. The Offering is part of the Company's previously announced broader financing plan, which includes a gold stream and gold prepay facility on the Kurmuk project, intended to enhance financial flexibility to unlock significant value. Allied expects to provide further updates on its plans to unlock value in due course, and an update on the completion the Kurmuk financing packages no later than the publishing of Q3 2024 results. The Shares were offered pursuant to a (final) short form prospectus supplement (the \"Prospectus Supplement\") dated October 3, 2024 and on a private placement basis by way of a confidential offering memorandum pursuant to certain exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), and applicable state securities laws. This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. Copies of the Prospectus Supplement and t...