Asante Gold Corporation (CSE: ASE) (GSE: ASG) (FRANKFURT: 1A9) (U.S.OTC: ASGOF) is pleased to announce that the Company has closed the first tranche of US$25 million of the previously announced US$100 million non-brokered private placement with the issuance of 22,666,667 common shares. The second and third tranches of the Offering, consisting of US$35 million and US$40 million, are expected to be completed on or about November 14, 2024 and December 5, 2024, respectively.
The securities issued under the First Tranche Closing are subject to a hold period expiring four months and one day following the closing date of the Offering in accordance with applicable securities laws. No commissions or finder’s fees were paid by the Company in connection with the First Tranche Closing.
The use of proceeds from the Offering may include the funding of growth and development initiatives at the Bibiani and Chirano mines, as well as acquisition opportunities and refinancing of liabilities.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Asante Gold Corporation
Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines and continues with detailed technical studies at its Kubi Gold Project. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the Canadian Securities Exchange and the Ghana Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle.
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