Asante Announces Conversion of Convertible Debenture

Core Points - Asante Gold Corporation announced the conversion of a secured convertible debenture held by Kinross Gold Corporation into common shares, totaling approximately US$80 million [1][2] - The conversion will result in the issuance of 61,735,867 shares at a price of C$1.81 per share, extinguishing all obligations related to the debenture [2][3] - The conversion is expected to strengthen Asante's balance sheet by eliminating debt and enhancing capital allocation for expansion projects at Bibiani and Chirano [3] Financial Impact - The total amount converted from the debenture is approximately US$80 million, which is equivalent to C$1.81 per share for 61,735,867 shares [1][2] - The conversion eliminates the convertible debenture from Asante's financial obligations, improving the company's financial position [2][3] Company Overview - Asante Gold Corporation operates gold mines in Ghana, specifically the Bibiani and Chirano Gold Mines, and is involved in exploration projects in the region [5] - The company is focused on advancing its expansion projects and increasing high-grade gold production to create long-term shareholder value [3][5]