Eldorado Gold Corporation in connection with its $135 million bought deal financing and $81.5 million strategic investment

Eldorado Gold Corporation (“Eldorado” or the “Company”) is a gold and base metals producer with mining, development and exploration operations in Canada, Greece, and Turkey.

Fasken acted as Canadian counsel to Eldorado in connection with the filing of its base shelf prospectus dated May 18, 2023 (the “Shelf Prospectus”) with the security’s regulatory authorities in all provinces and territories of Canada. Eldorado relied on the “well-known seasoned issuer” (or “WKSI”) exemption adopted by the Canadian Securities Administrators (the “WKSI Exemption”). The WKSI Exemption provides certain Canadian reporting issuers with relief from certain Canadian base shelf prospectus filing requirements, including the requirement to file a preliminary base shelf prospectus.

On June 7, 2023, Eldorado closed a bought deal financing for gross proceeds of approximately $135 million (the “Offering”). The Company issued a total of 10,400,000 common shares at an offering price of $13.00 per common share. The Offering was conducted by a syndicate of underwriters led by BMO Capital Markets and National Bank Financial. The Offering was a public offering in Canada and the United States, conducted by way of a supplement to the Shelf Prospectus in Canada and a registration statement filed under the multi-jurisdictional disclosure system in the United States.

Eldorado also completed an $81.5 million strategic investment (the “Concurrent Private Placement”) in Eldorado by the European Bank for Reconstruction and Development (“EBRD”). The Concurrent Private Placement was effected by way of a private placement, whereby the EBRD subscribed for 6,269,231 common shares at a price of $13.00 per common share. The Concurrent Private Placement closed on June 14, 2023.

Fasken advised Eldorado with a team led by Georald Ingborg (Corporate Finance & Securities) and comprised of Samuel Li (Corporate Finance & Securities), Marco Maduri (Corporate Finance & Securities), Amina Juma (Corporate Finance & Securities), Sabrina Chang (Corporate Finance & Securities), and Christopher Ross (Tax).