Zijin Gold to invest about US$295 million in Allied Gold for 9.2% stake - AAUC News | RalliesZijin Gold to invest about US$295 million in Allied Gold for 9.2% stake
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AAUC• Zijin Gold private placement in Allied Gold
- Zijin Gold agreed to invest about US$295 million via a non-brokered private placement of about 12,800,000 common shares.
- Subscription price set at CAD 32.55 per share, pegged to the 30-day TSX VWAP through July 27.
- Stake expected to rise to about 9.2% on closing; completion targeted on or about Aug. 10, subject to TSX and NYSE clearance.
- Deal signed alongside termination of the prior arrangement agreement between the two companies.
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