Asante Gold Corporation today, Monday, 23 January 2022, announced that it has entered into an agreement with Clarus Securities Inc., as Lead Agent, on behalf of a syndicate of agents in connection with a “best efforts” private placement of up to US$50,000,000 at C$1.80 per share.
The offering is expected to close on or about February 9, 2023, and is subject to a number of closing conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange.
The securities issued under the offering will be subject to a four month hold period from the date of issue in accordance with applicable securities laws, a statement from Asante noted.
The company said it intends to use the net proceeds from the offering for exploration and development of the company’s mineral properties and for general corporate working capital purposes.
The securities, it noted, 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Asante Gold Corporation 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 with combined forecast production of approximately 400,000 ounces of gold for 2023.
The company continues with detailed technical studies at its Kubi Gold Project for early production.
All mines and projects are located on the prolific Bibiani and Ashanti Gold Belts.
Asante is listed on the Canadian Securities Exchange, the Ghana Stock Exchange and the Frankfurt 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.