TORONTO (miningweekly.com) – Aim-, ASX and TSX-listed Allied Gold has raised about C$152,99-million in a public offering of shares, the company reported on Friday.

Allied sold 456,7-million shares, at 33,5 Canadian cents apiece, after the syndicate of agents partially exercised an overallotment option on the financing.

In September, Allied launched an off-market takeover bid for Australian Solomons Gold (ASG). It now owns about 96,9% of the company and will go ahead with a compulsory acquisition of the balance of the shares.

Allied plans to use the net proceeds from the offering for the redevelopment of the Gold Ridge project in the Solomon Islands, which it acquired in the ASG acquisition, the completion of its Simberi project oxide expansion, in Papua New Guinea, and for working capital and general corporate purposes.

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