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

Executive Summary

• Asante Gold closed a “bought‑deal” private placement of 112,125,000 common shares at C$1.60 each, raising gross proceeds of C$179.4 million.
• The company also completed a non‑brokered private placement of 8,625,000 shares to its Executive Chairman for C$13.8 million, expected to close around Jan 30, 2026.
• An accordion feature on the senior term loan was exercised, increasing lender commitments by US$30 million to a total facility size of US$150 million as of Dec 31, 2025.

Key Details

• Brokered Offering: 112,125,000 common shares issued at C$1.60 per share; gross proceeds C$179.4 M; underwriters led by BMO Capital Markets (lead and sole bookrunner) with National Bank Financial Inc. and Clarus Securities Inc.; cash commission to underwriters ≈C$9.85 M (5.5% of gross proceeds).
• Use of Proceeds: Net proceeds earmarked for continued development and growth expenditures at the Bibiani and Chirano gold mines and for general working capital.
• Statutory Hold Period: Shares subject to a four‑month hold period expiring May 7, 2026; offering remains subject to final acceptance by the TSX Venture Exchange (TSXV).
• Non‑Brokered Offering: 8,625,000 common shares sold to Executive Chairman Malik Easah at C$1.60 per share; gross proceeds C$13.8 M; anticipated closing ≈Jan 30, 2026; also subject to TSXV acceptance.
• Related Party Transaction: Insiders subscribed under the same terms as arm’s‑length investors; exempt from formal valuation/minority shareholder approval under MI 61‑101 because each related‑party transaction is <25% of market cap.
• U.S. Securities Restrictions: Shares not registered under U.S. securities laws and may not be offered or sold in the United States or to U.S. persons absent exemption/registration.
• Term Loan Accordion Feature: Effective Dec 31, 2025, lender commitments increased by US$30 M (additional commitment from GCB Bank Plc), raising total senior term loan facility to US$150 M.

Notable Quotes

(No direct quotes were provided in the release.)