ASG Financing

Asante Announces Receipt of Net Proceeds From C$237M Equity Offering, Completion of Kinross Restructuring

Published August 12, 2025 at 03:02 PM

VANCOUVER, British Columbia, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE: ASE | GSE: ASG | FRANKFURT:1A9 | OTCQX: ASGOF) (“Asante” or the “Company”) is pleased to announce that, further to its news release dated August 11, 2025 announcing the execution of definitive agreements relating to an approximately $500 million financing package (the “Financing Package”), the Company has satisfied the conditions to first draw down under such definitive agreements, resulting in the satisfaction by the Company of the escrow release conditions relating to the bought deal private placement of 163,300,000 subscription receipts of the Company (the “Subscription Receipts”) at a price of C$1.45 per Subscription Receipt for aggregate gross proceeds of approximately C$237 million (“M”) which was completed on July 7, 2025 (the “Offering”). All amounts are in U.S. dollars unless otherwise indicated.

Related Questions

How will the net proceeds of C$237 million from the equity offering affect Asante's cash position and capital structure? What is the expected dilution impact on existing shareholders from the issuance of 163.3 million subscription receipts at C$1.45 each? How does the pricing of the subscription receipts compare to recent market prices and to similar equity raises in the gold sector? What are the intended uses of the financing package—e.g., project development, acquisition, debt repayment, or working capital—and how will that influence future cash flows? What is the market's reaction to the offering—are there any immediate price movements or changes in trading volume? Are there any covenants or restrictions attached to the financing package that could limit operational flexibility? How does this financing round position Asante relative to its peers in the Canadian and global gold mining industry? What is the projected impact on earnings per share (EPS) and net asset value (NAV) over the next 12‑24 months? Will the receipt of net proceeds trigger any changes in analyst coverage, target price revisions, or rating adjustments? Will the completion of the Kinross restructuring create additional upside or synergies for Asante, and how is that reflected in the valuation? How might the new capital affect Ascent's ability to fund upcoming drilling programs or expand production at existing assets?