Allied GOLD Closes C$192.2 Million Overnight Marketed Equity Offering
NEWS RELEASE
ALLIED GOLD CLOSES C$192.2 MILLION OVERNIGHT MARKETED EQUITY OFFERING
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR THE DISSEMINATION,
DISTRIBUTION, RELEASE OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES.
TORONTO, ON – October 8, 2024 ─ 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 pr epay
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 reg istration or an applicable exemption from
registration.
Copies of the Prospectus Supplement and the accompanying base shelf prospectus dated October 1, 2024
are available on SEDAR+ at www.sedarplus.ca. Alternatively, the Prospectus Supplement and the
accompanying Base Shelf Prospectus may be obtained free of charge upon request by contacting the Chief
Legal Officer and Corporate Secretary of Allied Gold Corporation at Royal Bank Plaza, North Tower, 200
Bay Street, Suite 2200, Toronto, Ontario M5J 2J3, telephone 416 -363-4435, or by email at
Notice of Third Quarter 2024 Results
The Company also announces that it will release its third -quarter 2024 operational and financial results
after the market closes on Thursday, November 7, 2024, Eastern Standard Time ("EST"). The Company
will then host a conference call and webcast to review th e results on Friday, November 8, 2024, at 9:00
a.m. EST.
Third Quarter 2024 Conference Call
Toll-free dial-in number (Canada/US): 1-800-898-3989
Local dial-in number: 416-406-0743
Participant passcode: 5324345#
Webcast: https://alliedgold.com/investors/presentations
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Conference Call Replay
Toll-free dial-in number (Canada/US): 1-800-408-3053
Local dial-in number: 905-694-9451
Passcode: 6354190#
About Allied Gold Corporation
Allied is a Canadian -based gold producer with a significant growth profile and mineral endowment,
operating a portfolio of three producing assets and development projects located in Côte d’Ivoire, Mali, and
Ethiopia. Led by a team of mining executives with operational and development experience and a proven
track record of creating value, Allied is progressing through exploration, construction, and operational
enhancements to become a mid-tier, next-generation gold producer in Africa and ultimately a leading senior
global gold producer.
For further information, please contact:
Allied Gold Corporation
Royal Bank Plaza, North Tower
200 Bay Street, Suite 2200
Toronto, Ontario M5J 2J3 Canada
Email: [email protected]
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION AND STATEMENTS
This press release contains “forward-looking information” under applicable Canadian securities legislation.
Except for statements of historical fact relating to the Company, information contained herein constitutes
forward-looking information, including, but not limited to, any information as to the Company ’s strategy,
objectives, plans or future financial or operating performance. Forward -looking statements are
characterized by words such as “plan”, “expect”, “budget”, “target”, “project”, “intend”, “believe”, “anticipate”,
“estimate” and other similar words or negative versions thereof, or statements that certain events or
conditions “may”, “will”, “should”, “would” or “could” occur. Forward-looking information included in this
press release includes, without limitation, statements with respect to the anticipated use of the net proceeds
from the Offering, the Company’s broader financing plan, the timing of further updates to the Company’s
plans, including the Kurmuk financing packages , and the Company’s goals to become a mid -tier, next-
generation gold producer in Africa and ultimately a leading senior global gold producer. Forward -looking
information is based on the opinions, assumptions and estimates of management considered reasonable
at the date the statements are made, and is inherently subject to a variety of risks and uncertainties and
other known and unknown factors that could cause actual events or results to differ materially from those
projected in the forward-looking information. These factors include any necessary re-allocation of proceeds
from the Offering for prudent business reasons; fluctuating price of gold; risks relating to the exploration,
development and operation of mineral properties, including but not limited to unusual and unexpected
geologic conditions and equipment failures; risks relating to operating in emerging markets , particularly
Africa, including risk of government expropriation or nationalization of mining operations; risks related to
the Company’s expansion and optimization plans referred to herein not being met within t he timeframe
anticipated, or at all; counterparty, credit, liquidity and interest rate risks and access to financing; risks
related to the Company ’s current alternative financing initiatives not being met within the timeframes
anticipated, or at all; health, safety and environmental risks and hazards to which the Company’s operations
are subject; the Company’s ability to maintain or increase present level of gold production; risks related to
dependence on products produced from the Company ’s key mining asse ts; cost and availability of
commodities; increases in costs of production, such as fuel, steel, power, labour and other consumables;
risks associated with infectious diseases; uncertainty in the estimation of Mineral Reserves and Mineral
Resources; the Co mpany’s ability to replace and expand Mineral Resources and Mineral Reserves, as
applicable, at its mines; factors that may affect the Company ’s future production estimates, including but
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not limited to the quality of ore, production costs, infrastructure and availability of workforce and equipment;
risks relating to partial ownerships and/or joint ventures at the Company ’s operations; reliance on the
Company’s existing infrastructure and supply chains at the Company ’s operating mines; risks relating to
the acquisition, holding and renewal of title to mining rights and permits, and changes to the mining
legislative and regulatory regimes in the Company ’s operating jurisdictions; fluctuating price of gold;
limitations on insurance coverage; risks relating to illegal and artisanal mining; the Company’s compliance
with anti -corruption laws; risks relating to the development, construction and start -up of new mines,
including but not limited to the availability and performance of contractors and suppliers, the receipt of
required governmental approvals an d permits, and cost overruns; risks relating to acquisitions and
divestures; title disputes or claims; risks relating to the termination of mining rights; risks relating to security
and human rights; risks associated with processing and metallurgical recoveries; risks related to enforcing
legal rights in foreign jurisdictions; competition in the precious metals mining industry; risks related to the
Company’s ability to service its debt obligations; fluctuating currency exchange rates (including the US
Dollar, Euro, West African CFA Franc and Ethiopian Birr exchange rates); risks related to the Company ’s
investments and use of derivatives; taxation risks; scrutiny from non -governmental organizations; labour
and employment relations; risks related to third -party contractor arrangements; repatriation of funds from
foreign subsidiaries; community relations; risks related to relying on local advisors and consultants in foreign
jurisdictions; the impact of global financial, economic and political conditions, global liquidity, interest rates,
inflation and other factors on the Company ’s results of operations and market price of common shares;
risks associated with financial projections; force majeure events; transactions that may result in dilution to
common shares; future sales of common shares by existing shareholders; the Company’s dependence on
key management personnel and executives; vulnerability of information systems including cyber attacks;
as well as those factors discussed in the section entitled “Economic Trends, Business Risks and
Uncertainties” in the Company’s interim management’s discussion and analysis for the three and six months
ended June 30, 2024 and the section entitled “Risk Factors” in the Company’s annual information form for
the year ended December 31, 2023, both of which are available at www.sedarplus.ca.
Although the Company has attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking information, there may be other factors
that could cause actions, events or results to not be as anticipated, estimated or intended. There can be no
assurance that forward-looking information will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. The Company u ndertakes no obligation
to update forward -looking information if circumstances or management ’s estimates, assumptions or
opinions should change, except as required by applicable law. The reader is cautioned not to place undue
reliance on forward-looking information. The forward-looking information contained herein is presented for
the purpose of assisting investors in understanding the Company’s plans and goals, including the intended
use of proceeds from the Offering, and may not be appropriate for other purposes.