Asante Gold Corporation a month ago announced an equity financing agreement with a strategic investor, involving the sale of 90,666,667 common shares at C$1.50 per share for total gross proceeds of C$136 million (approximately $100 million).
The financing agreement, according to Asante Gold, will occur through a non-brokered private placement and will be executed in three tranches: $25 million on October 15, 2024, $35 million on November 14, 2024, and$40 million on December 5, 2024, pending regulatory approvals.
The proceeds from this offering, Asante Gold further notes, will be used for growth and development projects at Asante’s Bibiani and Chirano mines, as well as for acquisition opportunities and liability refinancing.
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.
The Company is listed on the Canadian Securities Exchange and the Ghana Stock Exchange.
