Asante Gold Closes C$179.4 Million Bought Deal Private Placement of Common Shares

Core Viewpoint - Asante Gold Corporation has successfully completed a "bought deal" private placement, raising C$179.4 million through the issuance of 112,125,000 common shares at a price of C$1.60 per share [1][2]. Group 1: Financial Details - The underwriting agreement for the Brokered Offering was led by BMO Capital Markets, with a total cash commission of approximately C$9.85 million, which is 5.5% of the gross proceeds [2]. - The net proceeds from the Brokered Offering will be allocated for development and growth expenditures at the Bibiani and Chirano mines, as well as for general working capital [3]. - A non-brokered private placement is also planned, where the Executive Chairman will purchase 8,625,000 common shares at the same price, generating an additional C$13.8 million [4]. Group 2: Regulatory and Compliance - The common shares from both the Brokered and Non-Brokered offerings are subject to a four-month statutory hold period, expiring on May 7, 2026, and are pending final acceptance from the TSX Venture Exchange [3]. - Certain insiders participated in the Brokered Offering, which is classified as a "related party transaction" under Multilateral Instrument 61-101, but the company is exempt from formal valuation and minority shareholder approval requirements [5]. Group 3: Company Overview - Asante Gold Corporation is engaged in gold exploration, development, and operations, with a focus on projects in Ghana, including the Bibiani and Chirano Gold Mines [8]. - The company is also exploring additional projects such as Keyhole, Fahiakoba, and Betenase, which are located in proximity to major gold mines in Ghana's Golden Triangle [8].