Alio Gold Announces Closing Of C$50.39 Million Bought Deal

Vancouver, July 20, 2017 – Alio Gold Inc. (TSX:ALO, NYSE MKT:ALO) (the “Company”) is pleased to announce that it has completed the previously announced bought deal offering of Units for aggregate gross proceeds of C$50,387,500. The Offering was underwritten by a syndicate of underwriters who purchased on a bought deal basis 8,000,000 units of the Company (the “Units”) at a price of C$6.25 per Unit for aggregate proceeds of C$50,000,000. Each Unit consists of one common share (a “Common Share”) of the Company and one-half of one common share purchase warrant (each whole warrant a “Warrant”). Each Warrant will entitle the holder to acquire one common share of the Company at a price of C$8.00 at any time prior to July 20, 2018. The underwriters also exercised the over-allotment option in part and purchased an additional 62,000 Units to cover over-allotments for additional gross proceeds to the company of C$387,500.

The net proceeds of the Offering will be used by the Company to advance its Ana Paula project and for general corporate purposes.

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