Kinross Gold sells 36.92 million Asante Gold shares

Executive Summary

• Kinross Gold Corp. sold 36,927,650 common shares of Asante Gold Corp., representing its entire 5.2 % stake, for an aggregate cash consideration of $73.1 million at $1.98 per share.
• The transaction was executed as a private placement with a hold period until 13 Dec 2025; Kinross retains convertible instruments amounting to roughly 8.4 % of Asante on a partially diluted basis.
• No further plans or intentions regarding additional purchases or sales of Asante securities were disclosed.

Key Details

• Shares sold: 36,927,650 common shares (100 % of Kinross’s Asante holdings, ~5.2 % of total outstanding shares).
• Sale price: $1.98 per share (excluding commissions).
• Total proceeds: $73,116,747 cash received by Kinross.
• Hold period: Shares subject to a hold restriction under Canadian securities law until 13 Dec 2025.
• Remaining interest: Convertible instruments representing ~8.4 % of Asante’s outstanding shares on a partially diluted basis after the sale.
• Prior ownership context: Before the transaction Kinross held up to 13.2 % on a partially diluted basis (assuming conversion of all convertible instruments).
• Future actions: Kinross may buy or sell additional Asante securities in open market or private transactions, but currently has no other plans or intentions.
• Contact for early warning report: Luke Crosby, Senior Vice‑President, General Counsel & Corporate Secretary, 647‑788‑4478.

Notable Quotes

(No direct quotes were provided in the release.)