Asante closes $179.4-million bought deal offering

Executive Summary

• Asante Gold Corp. closed a C$179.4 million bought deal private placement, issuing 112,125,000 common shares at $1.60 per share, with net proceeds allocated to mine development and working capital.
• The company simultaneously closed a $30 million (USD) accordion feature on its existing senior term loan, increasing total lender commitments to $150 million (USD) with additional funding from GCB Bank PLC.
• A separate $13.8 million non-brokered private placement with Executive Chairman Malik Easah is anticipated to close in late January 2026, subject to TSX-V acceptance.

Key Details

• Equity Financing Structure: Closed C$179.4 million bought deal private placement of common shares.
• Shares Issued: 112,125,000 common shares, including full exercise of the underwriters' over-allotment option.
• Pricing: $1.60 per common share.
• Underwriters: Syndicate led by BMO Capital Markets (lead underwriter and sole bookrunner), including National Bank Financial Inc. and Clarus Securities Inc.
• Underwriting Commission: ~$9.85 million cash commission (5.5% of gross proceeds), excluding subscriptions from a company-formed president's list.
• Use of Proceeds: Continued development and growth expenditures at the Bibiani and Chirano mines, plus general working capital purposes.
• Statutory Hold Period: 4-month hold under Canadian securities laws, expiring May 7, 2026.
• Regulatory Status: Subject to final acceptance of the TSX Venture Exchange.
• Additional Private Placement: Agreement with Executive Chairman Malik Easah to sell 8,625,000 common shares at $1.60/share for $13.8 million gross proceeds; anticipated closing ~Jan 30, 2026.
• Insider Subscriptions: Certain insiders subscribed on identical terms to arm's-length investors; exempt from formal valuation and minority shareholder approval under MI 61-101 as related-party transaction value remains below 25% of market capitalization.
• Debt Facility Update: Closed accordion feature under existing senior term loan effective Dec 31, 2025.
• Debt Increase: $30 million (USD) additional commitments provided by GCB Bank PLC.
• Total Debt Commitments: Increased to $150 million (USD).