Business
Allied Gold Commences Trading on TSX, Announces Strategic Ownership Consolidation of Kurmuk Development Project, and Board Approvals to Advance Growth Projects
Toronto, Ontario--(Newsfile Corp. - September 11, 2023) - Allied Gold Corporation (the "Company") is pleased to announce that its common shares and convertible
About this update from Allied Gold Corporation
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - September 11, 2023) - Allied Gold Corporation (the \"Company\") is pleased to announce that its common shares and convertible debentures will commence trading on the Toronto Stock Exchange (the \"TSX\") at the opening of the market on Monday, September 11, 2023, with the common shares trading in Canadian dollars under the symbol \"AAUC\" and the convertible debentures trading in U.S. dollars under the symbol \"AAUC.DB.U.\" As previously announced, the Company recently completed a US$267 million financing, including a significant investment from incoming management in the amount of US$40 million. Net proceeds from the financing will be used by the Company to carry out its planned growth strategy, including ongoing optimization and development work, as well as for general corporate purposes. Further details on the advancement of the Company's development projects follow below. As of the date hereof, the Company has an aggregate of 250,724,253 common shares and US$107,279,000 principal amount of debentures issued and outstanding. The aggregate ownership of management and board members in the Company, totaling 22.2%, includes 5.7% owned by Peter Marrone, Chairman and Chief Executive Officer, who anchored the significant investment of incoming management referred to above, and 10.9% owned by Justin Dibb, founder of Allied Gold Corp Limited and Vice Chairman of the Company. This demonstrates strong alignment with shareholders and a firm commitment to value creation. \"Following the closing of our previously announced business combination by way of a reverse take-over transaction, and concurrent financing, the commencement of trading on the TSX marks the final step as we complete our transition to a public company and embark on our next phase of growth,\" said Peter Marrone, Chairman and Chief Executive Officer of the Company. \"We are excited to have been part of this foundational event for the Company and are now positioned to execute our strategic vision, with a renewed commitment to delivering on our high-quality, organic growth profile and generating substantial value for our shareholders. Our goal is to evolve into a significant mid-tier next-generation gold producer and ultimately become a leading senior global gold producer.\" Accretive Strategic Ownership Consolidation - ...