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Financings

Asante closes $179.4-million bought deal offering

By The Northwire Desk — AI Analysis Jan 06, 2026 · 18:28 ASE · 1.795 Asante Gold Corporation
ASE · Price

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).
Read the original news release →

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Resource Estimate