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].