Allied Gold Not Proceeding With Ambrosia Private Placement, Expects NYSE Listing in Q3

, MT Newswires -  8:58 AM ET 4/14/2025 Company News

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08:58 AM EDT, 04/14/2025 (MT Newswires) -- Allied Gold ( AAUCF ) said Monday it will not proceed with the previously announced private placement with Ambrosia Investment Holding as certain conditions were not met.

The $3.40 price protection provided by the TSX for the private placement was set to expire, and Allied Gold ( AAUCF ) said it chose not to request a further extension of the period for closing at that price. Allied Gold ( AAUCF ) said its share price to increase compared to the one contemplated in the private placement, citing the recent surge in gold prices.

According to Allied Gold ( AAUCF ), Ambrosia expressed willingness to continue advanced discussions for a joint venture and long-term power supply arrangement over the Sadiola mine in Mali.

Meanwhile, Allied Gold ( AAUCF ) said the NYSE cleared the company's listing application under the AAUC ticker. The company expects to commence its NYSE listing at the start of the third quarter.

Allied Gold's ( AAUCF ) share price gained 6.9% on Friday to $5.56 on the TSX.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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