Allied Gold Corporation has completed its previously announced strategic investment with Zijin Gold International Company Limited, raising aggregate gross proceeds of C$416,640,000 through a non-brokered private placement.

The transaction involved the issuance of 12,800,000 common shares at a price of C$32.55 per share. Following the closing, Zijin Gold holds an equity interest of approximately 9.2% in Allied Gold. The investor is also entitled to customary participation and top-up rights to maintain its pro rata ownership interest, provided its holding stays above 5% on a non-diluted basis.

The proceeds will fund ongoing growth initiatives across the portfolio, which spans three producing assets and development projects located in Côte d'Ivoire, Mali, and Ethiopia. Specifically, Allied Gold plans to allocate the capital toward operational optimizations, the completion and ramp-up of the Kurmuk project, the phased expansion of the Sadiola mine, production increases at the CDI Complex, and portfolio-wide exploration efforts.

The newly issued shares are subject to a statutory hold period of four months and one day, ending on December 11, 2026. In connection with the private placement, Allied Gold’s Chairman and CEO, as well as the company’s Vice Chairman, have voluntarily agreed to enter into lock-up agreements covering the same period.

The closing comes during a robust period for the precious metal, with gold trading at US$4,394.40 per ounce, representing a 6.68% increase over the 30-day period ended August 11, 2026.

Read the full announcement: Allied Gold Announces Closing of Strategic Investment by Zijin Gold