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VANCOUVER, British Columbia, Jan. 30, 2026 (GLOBE NEWSWIRE) — Asante Gold Corporation (TSX-V: 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“).
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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.
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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“).
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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 with MI 61-101.
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The Common Shares offered pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
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About Asante Gold Corporation
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Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines and continues with detailed technical studies at its Kubi Gold Project. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the TSX Venture Exchange, the Ghana Stock Exchange and the OTCQX® Best Market. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects 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 the Company’s website at www.asantegold.com.
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