10:35 AM EDT, 10/24/2025 (MT Newswires) -- Allied Gold ( AAUC ) Friday said it closed its previously announced overnight marketed public offering of common shares for aggregate gross proceeds of C$175.04 million.

The company issued 6.4 million shares at a price of C$27.35 each.

The company said that the offering was completed through Stifel Nicolaus Canada, Canaccord Genuity Corp and National Bank Financial, as joint bookrunners, together with a syndicate of underwriters made up of CIBC World Markets and Cormark Securities.

The company has granted the underwriters an over-allotment option.

A statement noted that the company plans to use the net proceeds of the offering to fund its optimization and growth initiatives particularly to accelerate development of infrastructure for the next phase of expansion at Sadiola which includes improvements in processing capacity and acceleration of the implementation of certain components of the recently announced energy program, modify the plant under development at Kurmuk to increase average processing capacity for higher levels of production, begin the transition to owner mining at one or more operations, and general corporate purposes to take advantage of corporate and asset-based opportunities which may arise from time to time.

The company's shares were last seen up 1% to $25.01 on the Toronto Stock Exchange.

Price: 25.15, Change: +0.41, Percent Change: +1.66