Asante Gold Closes Previously Announced Non-Brokered Private Placement

Executive Summary

• Asante Gold Corporation closed a non‑brokered private placement of 8,625,000 common shares at C$1.60 each, raising gross proceeds of C$13.8 million.
• Net proceeds are earmarked for development and growth expenditures at the Bibiani and Chirano gold mines and for general working capital.
• The issuance is a related‑party transaction exempt from formal valuation or minority shareholder approval under MI 61‑101, with a four‑month statutory hold period expiring May 31 2026.

Key Details

• Shares Issued: 8,625,000 common shares.
• Price per Share: C$1.60.
• Gross Proceeds: C$13,800,000.
• Use of Proceeds: Continued development and growth at Bibiani and Chirano mines; general working capital.
• Statutory Hold Period: Four months, ending May 31 2026.
• Regulatory Status: Subject to final acceptance by the TSX Venture Exchange (TSXV).
• Related‑Party Transaction: Exempt from MI 61‑101 valuation and minority approval requirements because fair market value does not exceed 25 % of market capitalization.
• U.S. Securities Law Disclaimer: Shares are 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 or registration.

Notable Quotes

(No direct quotes were provided in the release.)