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].

Core Viewpoint - Asante Gold Corporation has finalized key agreements for a financing package totaling approximately $500 million to support its operations and restructuring with Kinross Gold Corporation [1][2][3] Financing Package Overview - The financing package includes a senior debt facility of $150 million, a subordinated debt facility of $125 million, and a gold stream financing of $50 million, alongside a C$237 million brokered private placement and a $10 million non-brokered private placement [2][3][7] - The total gross proceeds expected from the financing package are approximately $500 million, with the first stage of funding anticipated to close by August 15, 2025 [2][5] Use of Proceeds - The net proceeds from the financing package will be allocated for development and growth expenditures at the Bibiani and Chirano mines, cash payments to Kinross, retirement of short-term liabilities, and general working capital [3] Anticipated Closing Timeline - The financing package will close in two stages, with the first stage expected to include approximately $350 million in funding [4][5] - The second stage is anticipated to close by the end of August 2025, involving the full availability of the remaining $145 million under the senior debt facility [6] Details of Financing Components - The senior debt facility consists of a $130 million term loan and a $20 million revolving credit facility, with an interest rate of SOFR + 6.50% [8][9] - The mezzanine facility totals $125 million, with investments from Appian and Helikon Investments, and an interest rate of SOFR + 9.75% [12] - The gold stream financing involves selling 1.50% of payable gold from the Bibiani and Chirano mines at 20% of the market price for the first 24 months, increasing to 2.25% thereafter [14] Kinross Restructuring Agreement - Asante has entered into a restructuring agreement with Kinross, which includes a cash payment of approximately $53 million, issuance of 36,927,650 common shares, and a secured convertible debenture of approximately $80 million [18][19] - The convertible debenture will have a seven-year maturity and bear interest at 3.0% per annum, with specific conversion terms [19] Security Package - The obligations under the financing facilities will be secured by certain assets of Asante and its subsidiaries, including the Chirano and Bibiani mines, with a defined order of priority for secured obligations [20]

Core Viewpoint - Asante Gold Corporation has successfully closed a bought deal private placement, raising gross proceeds of C$236,785,000 through the issuance of 163,300,000 subscription receipts at a price of C$1.45 each, which will be used for development and growth expenditures at its mines and to settle obligations with Kinross Gold Corporation [1][12]. Financing Details - The offering was completed under an underwriting agreement with BMO Capital Markets as the lead underwriter, with a cash commission of 5.5% on gross proceeds, excluding certain sales [2]. - The gross proceeds, after deducting 50% of the underwriters' commission and related expenses, are held in escrow until specific conditions are met, including the satisfaction of the Escrow Release Condition [3][5]. - The company plans to secure a financing package that includes a US$150 million senior debt facility, a US$125 million subordinated debt facility, and a US$50 million gold stream financing [8]. Financing Package Composition - The financing package is expected to involve US$175 million from Appian Capital Advisory Ltd. and US$170 million from FirstRand Bank Limited, with specific allocations for each component of the financing [9]. - The company intends to issue common share purchase warrants to Appian as part of the financing arrangement, which will be exercisable at a price of C$1.67 per share [9]. Kinross Debt Settlement - Asante Gold plans to settle approximately US$53 million in deferred consideration owed to Kinross Gold Corporation through cash payments and the issuance of common shares to increase Kinross's equity ownership to 9.9% [10]. Use of Proceeds - The net proceeds from the offering and financing package will be allocated for development and growth at the Bibiani and Chirano mines, settling obligations to Kinross, and general working capital [12]. Corporate Updates - The company announced the retirement of its Chief Operating Officer, Adriano Sobreira, and the strengthening of its senior management team with new appointments in Ghana [15][16]. - The annual general and special meeting of shareholders has been rescheduled to October 2025 to accommodate holders of subscription receipts [18].

Core Viewpoint - Asante Gold Corporation has secured $470 million in credit and equity commitments to fund its growth plans and recapitalize short-term liabilities, including a $175 million financing package from Appian Capital Advisory and a $170 million credit commitment from FirstRand Bank [2][3][5] Financing Package - The financing package includes a Senior Debt Facility of $150 million, a Subordinated Debt Facility of up to $125 million, and a Gold Stream financing of $50 million [3][5][7] - The Senior Debt Facility consists of a term loan of approximately $120 million and a revolving credit facility of approximately $30 million, with an interest rate of SOFR + 6.50% [7][8] - The Subordinated Debt Facility will have a maturity of seven years and an interest rate of SOFR + 9.75%, with the option for interest payments to be made in cash or payment-in-kind during the first 24 months [10] - The Gold Stream financing allows Asante to sell 1.50% of payable gold at 20% of the market price for 24 months, increasing to 2.25% thereafter [11] Kinross Agreement - The agreement with Kinross Gold Corporation involves settling approximately $53 million in deferred consideration, increasing Kinross's equity ownership to 9.9%, and converting remaining amounts into a convertible debenture and a non-convertible debt instrument [12][13] Operational Plans - The financing will support operational initiatives at the Bibiani and Chirano mines, including pit expansion, treatment plant completion, and underground mine development [5][4] - The company aims to achieve gold production of over 500,000 ounces per year by 2028, with projected free cash flow generation exceeding $2 billion through 2029 [4] Listing on TSX-V - Asante has received conditional acceptance for listing its common shares on the TSX Venture Exchange, with completion anticipated in August 2025 [17]