Funds to expand the Simberi gold mine; shares sold at 6.25% discount
By Devika Patel
Knoxville, Tenn., April 5 - Allied Gold Ltd. said it will conduct a private placement of shares for about A$93.8 million.
The company will sell about 156.3 million ordinary shares at A$0.60 per share. The per share price represents a 6.25% discount to the A$0.64 closing share price on April 4.
RBC Capital Markets is the global lead manager and sole bookrunner. Casimir Capital LP is joint lead manager and Mirabaud Securities LLP, Oriel Securities Ltd. and Wilson HTM are co-managers.
Proceeds will be used to retire A$50 million of debt facilities, replace diesel fuel electricity generation with heavy fuel oil at the Simberi gold mine, expand the Simberi mine and provide working capital for exploration and other corporate purposes.
Based in Welshpool, Western Australia, Allied is a gold and base metals exploration company.
| Issuer: | Allied Gold Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$93.8 million (approximate)
|
| Shares: | 156.3 million (approximate)
|
| Price: | A$0.60
|
| Warrants: | No
|
| Pricing date: | April 5
|
| Stock symbol: | Australia: ALD
|
| Stock price: | A$0.635 at close April 5
|
| Market capitalization: | A$661.8 million
|
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