Dominion Lending Centres Clearlease Reports Allied Gold Limited (TSX:ALG)(ASX:ALD)(AIM:AGLD) Completes A$93.8 Million Placement

  Dominion Lending Centres Clearlease Reports Allied Gold Limited (TSX:ALG)(ASX:ALD)(AIM:AGLD) Completes A$93.8 Million Placement

Vancouver, B.C., Canada (April 5, 2011) – Clearlease.com Reports – Proceeds to Retire Debt, Improve Simberi (PNG) Operational Efficiency, Expand Simberi Production and Working Capital

– A$93.8 Million / GBP 60.1 Million Placement to Institutional and Sophisticated Investors
– The Placement Shares Represent 15% of Current Issued Share Capital
– New Shares Issued at A$0.60 / 38.5p Per Share
– Allied to Advance LSE Main Market Listing

THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY JURISDICTION IN WHICH SUCH PUBLICATION RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL

Allied Gold Limited (TSX:ALG)(ASX:ALD)(AIM:AGLD) (“Allied Gold” or the “Company”) has successfully completed the book build for a placement of new ordinary shares (“Shares”) to institutional and sophisticated investors, raising gross proceeds of approximately A$93.8 million (GBP 60.3 million) (the “Placement”).

The Shares under the Placement will be issued at a price of A$0.60 (or 38.5p) per share (“Issue Price”), which represents a discount of:

— 5.5% to Allied Gold’s last closing share price on the ASX of A$0.635; and — 4.8% to Allied Gold’s 5 day volume weighted average share price on the ASX of A$0.630.

Under the Placement Allied Gold will issue approximately 156.3 million Shares with admission of the Shares on AIM expected to be Monday 11 April 2011 and admission of shares on ASX expected to be on Tuesday 12 April 2011.

Application has been made to the London Stock Exchange for the Shares to be admitted to trading on AIM. The Placement is also subject to receipt of approval from the Toronto Stock Exchange (“TSX”).

The Shares, when issued, will rank pari passu with existing ordinary shares of the Company. Immediately following the admission of the Shares, Allied Gold will have approximately 1,199 million ordinary shares on issue.

RBC Capital Markets is acting as Global Lead Manager and Sole Bookrunner on the Placement, Casimir Capital L.P. is acting as Joint Lead Manager and Mirabaud Securities LLP, Oriel Securities Limited and Wilson HTM are acting as Co-Managers on the Placement.

USE OF FUNDS

Allied Gold intends to use the net proceeds from the Placement to:

— Retire approximately A$50.0 million (GBP 32.1 million) of existing debt
facilities, thus strengthening Allied Gold’s balance sheet;

— At Simberi, replace diesel fuel electricity generation with heavy fuel
oil at a cost of approximately A$15.0 million (GBP 9.6 million), to
reduce Simberi’s electricity generation costs by approximately 25 per
cent;

— Provide the balance of funding required to expand the Simberi gold mine
(“Simberi”) in Papua New Guinea (PNG) from 2.4Mtpa to 3.5Mtpa, to lift
gold production from 70,000 ozpa to 100,000 ozpa; and

— Provide working capital for exploration and other corporate purposes.

INTENTION TO MOVE TO THE MAIN MARKET OF THE LONDON STOCK EXCHANGE

Allied Gold intends to apply for admission of its ordinary share capital to the Official List of the UK Listing Authority (the “Official List”) and for a Premium Listing on the London Stock Exchange’s (“LSE”) Main Market for listed securities.

The Company has been examining the merits of moving to the Main Market for some time and believes it can assist the Company with its profile, the liquidity of its shares, and an increased potential investor base.

Such a move will be subject to shareholder approval. Shareholders will be kept fully informed of this process as it progresses and as the timetable is confirmed.

RBC Capital Markets has been appointed as sponsor in relation to the move to the Main Market of the LSE.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About DLC Clearlease

Equipment Leasing Equipment Lease Financing in Vancouver Surrey Delta Richmond Langley New Westminster North Vancouver West Vancouver Calgary Edmonton Kerrisdale Coquitlam Abbotsford B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers, DLC Clearlease is a free service that can qualify you for an automobile or equipment lease finance. You save time and effort by giving DLC Clearlease.com your information just once; DLC Clearlease has partnered with over 100 lenders to offer you the best rates and service, comparable to none. We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

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