Notice: Proposed Acquisition of Allied Gold by Zijin Gold

Purpose of the notification of the proposed acquisition

The ECOWAS Regional Competition Authority (ERCA) received a merger notification from Zijin Gold International Company Limited (Zijin Gold), concerning acquisition of Allied Gold Corporation (Allied Gold).

The proposed transaction constitutes sole control over Allied Gold. The transaction is therefore subject to notification to the ERCA under the provisions of Regulation C/REG.23/12/21. The proposed acquisition is pursuant to an Arrangement Agreement dated 26 January 2026 between the parties. The control is as a result of the Shareholders who are selling their common shares to the Acquirer in exchange for a cash payment from the Acquirer to each Shareholder for their common shares and therefore, and Allied Gold, together with all of its assets and subsidiaries as currently held, will then be owned by the Acquirer (Zijin Gold).

The notification of the transaction to ERCA, for the purpose of prior approval, is in accordance with Article 2 (1) (a) of Regulation C/REG.23/12/21 on the rules of procedure for mergers and acquisitions in ECOWAS, the Enabling Rules PC/REX.1/01/24 on the threshold for mergers and acquisitions; and the thresholds for dominant and monopolistic positions. As the acquisition involves entities in ECOWAS Member States, it is, therefore, subject to notification to ERCA under the provisions of Regulation C/REG.23/12/21.

Concerned parties

Zijin Gold International Company Limited (the “Acquirer”) is a publicly listed company on the Hong Kong Stock Exchange. It is owned by Gold Mountains (H.K.) International Mining Company Limited and Zijin Mining Group Northwest Company Limited, both of which are controlled by Zijin Mining Group Company Limited (together with Zijin Gold and its affiliates, the “Zijin Group”).

As a result, Zijin Mining Group Company Limited holds an indirect majority of the issued shares of Zijin Gold. In addition, Minxi Xinghang State-owned Assets Investment Company Limited holds a minority stake in Zijin Mining Group Company Limited.

Zijin Gold operates within the Community market through its wholly owned interest in the Akyem Gold Mine in Ghana. This open-pit gold mine is located within the West African gold belt and includes mining and processing facilities, notably a carbon-in-leach (CIL) processing plant and related infrastructure.

The Target, Allied Gold Corporation, is a Canadian public company listed on the Toronto Stock Exchange. It is owned by its board of directors and Helikon Investments Limited.

Within the Community market, Allied Gold operates through its subsidiaries, including Bonikro Gold Mine SA, Afrique Gold Exploration SARL, Hire Gold Mine SA, and Agbaou Gold Operations SA, all incorporated under the laws of Cote d’Ivoire. These entities operate mining and processing infrastructure, including processing mills, tailings facilities, and related assets.

Concerned Acquisition

The proposed transaction concerns the acquisition of sole control over Allied Gold Corporation, including its subsidiaries operating within the Community market, in the mining, extraction, and processing of gold, as well as associated infrastructure.

Expected Results of the Acquisition

The transaction will result in the full ownership and control of Allied Gold Corporation and its subsidiaries incorporated in the Community market. It will confer decisive influence over strategic decision-making and operations.

Following completion, Zijin Gold (as part of the Zijin Group) will hold the entirety of the issued share capital and voting rights in the relevant target entities.

Rights of third parties

Pursuant to Article 44 (2) (a) (iv) of the ECOWAS Regional Competition Authority’s Manual of Investigation and Notification Procedures, third parties are invited to submit their comments to ERCA within thirty (30) days of the publication of this communication.

Such comments shall be accompanied by any documentation capable of substantiating the facts and analyses and sent confidentially to the following address:

ECOWAS Regional Competition Authority

Bertil Harding, Bijilo, The Gambia

P.O Box 4470

Or electronically at the following email address: registry@erca-arcc.org.