Asante Gold Corporation
Asante Gold Corporation has successfully closed the second tranche of its $100 million private placement, raising $35 million. This tranche involved issuing 31,896,857 common shares at C$1.50 per share to settle debts owed to arm’s length creditors.
The second tranche follows an initial $25 million and brings the company closer to its funding goal. The third tranche, valued at $40 million, is expected to close around December 5, 2024.
The proceeds from the placement will be used to fund growth and development at the Bibiani and Chirano mines, acquisition opportunities, and the refinancing of liabilities.
The shares issued are subject to a four-month hold period. This financing initiative aims to strengthen Asante Gold’s financial position and support its strategic growth.
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