Asante Announces Receipt of Net Proceeds from $125M Mezzanine, $50M Stream, $10M Non-Brokered Private Placement Financings, $5M Senior Debt First Utilization

Core Viewpoint - Asante Gold Corporation has successfully closed a financing package totaling approximately $500 million, which includes various financing components aimed at supporting the development and growth of its mining operations in Ghana [1][5]. Financing Details - The financing package includes a subordinated debt facility of $125 million, gold stream financing of $50 million, and a non-brokered private placement of common shares that raised $10 million [1]. - The non-brokered private placement involved the issuance of 9,484,828 common shares at a price equivalent to C$1.45 per share, resulting in gross proceeds of $10 million [2]. - A first utilization of $5 million from a previously announced senior debt facility of $150 million has been completed, contributing to the overall funding of approximately $350 million under the financing package [3]. Future Financing Plans - A second utilization of the remaining $145 million capacity under the senior debt facility is expected to close by the end of August 2025 [4]. Use of Proceeds - The net proceeds from the financing package will be allocated for development and growth expenditures at the Bibiani and Chirano mines, a cash payment to Kinross Gold Corporation, the retirement of short-term liabilities, and general working capital purposes [5]. Company Overview - Asante Gold Corporation is engaged in gold exploration, development, and operations, with a portfolio of projects and mines located in Ghana, including the Bibiani and Chirano Gold Mines [6].