VANCOUVER, British Columbia, Jan. 30, 2026 (GLOBE NEWSWIRE) -- Asante Gold Corporation (TSXV:ASE, GSE: ASG, OTCQX:ASGOF) ("Asante" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement of common shares of the Company ("Common Shares") pursuant to which the Company issued 8,625,000 Common Shares at a price of C$1.60 per Common Share for aggregate gross proceeds of C$13,800,000 (the "Offering").
The Company intends to use the net proceeds of the Offering for continued development and growth expenditures at the Bibiani and Chirano mines, and for general working capital purposes.
The Common Shares issued pursuant to the Offering are subject to a four month statutory hold period under applicable Canadian securities laws, expiring on May 31, 2026. The Offering remains subject to the final acceptance of the TSX Venture Exchange (the "TSXV").
This Offering is considered to be a "related party transaction" for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Offering in reliance on sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the securities issued to the related party nor the fair market value of the consideration for the securities issued to the related party exceeds 25% of the Company's market capitalization as calculated in accordance ...
