Allied Gold Terminates Zijin Gold Deal
Allied Gold cancels merger with Zijin Gold
AAUC -17% in pre-mkt on heavy volume following earlier PR: Allied Gold Announces Termination of Arrangement Agreement with Zijin Gold and a US$295M Strategic Investment in Allied Gold by Zijin Gold - both companies have concluded that there is no reasonable likelihood that the conditions relating to completion of the Transaction will be fulfilled by the outside date of July 29, 2026 or within any reasonable time thereafter.
Allied Gold, however, announces that Zijin Gold has agreed to make a strategic investment in Allied of approximately $295M, at a subscription price representing a premium to the current market price of the Company’s common shares on the TSE. -Zijin Gold International Co Ltd shares had closed +3% in Hong Kong trading prior to the PR.