Asante Gold
Source: Asante Gold Corp.
  • Asante Gold (ASE) has signed an agreement with a major institutional investor to sell units of the company for gross proceeds of $27,348,000
  • Asante intends to use the proceeds for exploration and development of its mineral properties and for general corporate working capital purposes
  • The company has terminated the brokered private placement, previously announced on January 23, 2023, due to unfavorable market conditions
  • Asante is a gold exploration, development and operating company with high-quality portfolio of projects and mines in Ghana
  • Asante Gold Corporation (ASE) opened trading at C$1.55 per share

Asante (ASE) has signed an agreement with a major institutional investor to sell units of the company for gross proceeds of $27,348,000.

The company, on a non-brokered private placement basis, will sell 18,232,000 units at $1.50 per unit. Each unit comprises of one common share and one common share purchase warrant. Each warrant is exercisable to acquire one additional common share at $1.75 for twelve months following the issue date.

Asante intends to use the proceeds for exploration and development of its mineral properties and for general corporate working capital purposes.

The company expects to close the offering on or about April 3, 2023, subject to a number of closing conditions.

The securities issued will be subject to a four month statutory hold period. The company did not pay any commissions or finder’s fees in connection to the offering.

Asante Gold is currently at an advanced stage of securing a senior debt facility. This is to support capital investments and development of its assets.

Termination of Previously Announced Brokered Private Placement

Asante Gold has terminated the brokered private placement, previously announced on January 23, 2023, due to unfavorable market conditions.

About Asante Gold Corporation

Asante is a gold exploration, development and operating company with high-quality portfolio of projects and mines in Ghana. The company is currently operating the Bibiani and Chirano Gold Mines. Its combined forecast production is approximately 400,000 ounces of gold for 2023.

The Bibiani Gold Mine is an operating open pit gold mine situated in the Western North Region of Ghana. The Chirano Gold Mine is an operating open-pit and underground mine. It is located in the Western Region of Ghana, immediately south of the company’s Bibiani Gold Mine.

Asante Gold Corporation (ASE) opened trading at C$1.55 per share.

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