Asante Provides Financing Update

Asante Gold Corporation has secured waivers and amendments from its senior lenders, a stream purchaser, and a hedge counterparty regarding its Senior Facilities Agreement and Mezzanine Facility Agreement. The deadline to secure at least US$100 million in aggregate new funding has been extended from September 30, 2026, to October 31, 2026. Additionally, the deadline to deliver a cost-to-complete certificate to senior lenders has been pushed back to March 31, 2027.

The new funding is being arranged with Fujairah Holding LLC, which requested additional time for internal approval processes. The extension remains subject to Fujairah’s final internal approval and the execution of related agreements. Management continues discussions with lenders, its stream partner, and Fujairah to advance a longer-term financing solution.

Asante Gold Corporation (ASE) shares declined from $1.09 on August 24 to $0.77 on September 30, a drop that has already priced in the company’s liquidity stress. The recent waiver serves as a standard extension that delays the crisis but does not resolve the underlying funding gap. It provides one month of additional runway, signaling that Fujairah’s internal approvals are lagging and that the company remains on the brink of a cross-default event.

Asante Gold Corporation is a producing gold mining company operating two mines in Ghana: Bibiani and Chirano. The company transitioned from a development-stage entity to a producer, with significant capital expenditures directed toward plant upgrades, fleet expansion, and infrastructure at both sites. The company is listed on the Canadian Securities Exchange (TSXV) and Ghana Stock Exchange, with plans to dual-list on the Australian Securities Exchange (ASX) in early 2026.