Challenger Gold (ASX:CEL) said Peter Marrone, Allied Gold chairman and chief executive, will join Challenger as non-executive chairman-elect, according to a Monday Australian bourse filing.

Marrone's election will be subject to the receipt of shareholder approval at the extraordinary general meeting in June. Current non-executive chairman, Eduardo Elsztain, will transition to the role of non-executive director.

In addition, Yohann Bouchard, former chief operating officer of Yamana Gold, will join Challenger as COO, the company said.

In the same filing, the company said it received binding commitments for around 708 million new fully-paid ordinary shares at an issue price of AU$0.12 apiece to raise AU$85 million. This includes AU$10 million placement to Marrone and other lead investors, as well as AU$5.3 million to affiliates of Elsztain.

The company will also issue one free-attaching unlisted option for every two new shares subscribed for and issued pursuant to the placement, exercisable at AU$0.156.

Challenger Gold shares jumped nearly 2% in recent trading on Monday.