Asante Gold Corp C.ASE

Alternate Symbol(s): ASGOF

Metals & Mining Gold

Asante Gold Corporation is a Canada-based gold exploration and development company with a portfolio of projects and mines in Ghana. The Company operates the Bibiani and Chirano Gold Mines. Its mines and projects are located in the Bibiani and Ashanti Gold Belts. The Company holds a 90% interest to the Bibiani gold mine situated in the western region of Ghana. The Bibiani deposit is hosted with meta-sediments of the Kumasi Afema basin, on the eastern margin of the Bibiani-Sefwi Belt. Chirano is an operating open-pit and underground mining operation located in southwestern Ghana. The Chirano mine comprises the Akwaaba, Suraw, Akoti South, Akoti North, Akoti Extended, Paboase, Tano, Obra South, Obra, Sariehu and Mamnao open pits and the Akwaaba and Paboase underground mines. Its other assets include Kubi, Fahiakoba, Betenase, Keyhole Gold Project and Ashanti ll Project. Kubi Gold mines is located in Ghana, West Africa. Fahiakoba Concession is in the Ashanti and Central Regions of Ghana.

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Asante Gold Corp

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Post by flyer4on Apr 16, 2021 11:28am

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Post# 33010989

Asante Close $7 Million Private Placement

CAD$7.0 Million Private Placement Closed

April 16, 2021 09:30 ET | Source: Asante Gold Corporation

VANCOUVER, British Columbia, April 16, 2021 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9/U.S.OTC:ASGOF) (“Asante” or the "Company") announces that it has closed the private placement announced on March 16, 2021, for aggregate gross proceeds of $7,016,265.

A total of 47,710,602 units at a price of $0.15 per unit were placed with twenty-four subscribers, including 935,502 units which were placed with an arm’s length finder. Malik Easah, an Executive Director of the Company, purchased 3,333,333 units in the offering, representing 4.68% of the issued shares of the Company (assuming the exercise of the warrants acquired by Mr. Easah as part of the units).

Each unit consists of one common share of the Company, and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of $0.25 until April 15, 2023. All securities issued under this offering are subject to a four month and one day hold period.

Proceeds from the placement will be used for working capital, and for the exploration and development of the Company’s Kubi, Fahiakoba, Betenase and Keyhole gold projects in Ghana.

"Douglas R. MacQuarrie"
President & CEO

About Asante Gold Corporation
Asante has announced plans to co-list its shares on the Ghana Stock Exchange, and is sourcing funding to develop its Kubi Gold Mine project to production. Asante is also exploring its’ Keyhole, Fahiakoba and Betenase concessions/options for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle. Additional information is available on our web site at: www.asantegold.com

For further information please contact:
Douglas MacQuarrie, President and CEO, tel: +1 604-558-1134; E-mail: douglas@asantegold.com
Valentina Gvozdeva, Business Development, E-mail: valentina@asantegold.com
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail: d.kent@eastlink.ca
Kirsti Mattson, Media Relations, E-mail: kirsti.mattson@gmail.com

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release. LEI Number: 529900F9PV1G9S5YD446.