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]