Vancouver, British Columbia//-Asante Gold Corporation, a leading gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana today, says that the first tranche closing of $100M offering has been delayed due to foreign exchange conversion challenges.
Asante, which is currently operating the Bibiani and Chirano Gold Mines both in Ghana and continues with detailed technical studies at its Kubi Gold Project, explained that further to its press release of September 24, 2024, that announced a $100 million non-brokered private placement (the Offering) with the first tranche of $25 million scheduled to close on October 15, 2024.
The mining company confirmed that $14 million of the first tranche of the Offering has been received and that the balance of subscription funds to effect the closing of the first tranche of the Offering is expected to occur on or about October 31, 2024.
“This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered 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 state securities laws and may not be offered or sold within the United States or to or for the account or benefit of U.S”, it said.
The press release added that persons, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
According to the company, all its mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts in Ghana, emphasising it has an experienced and skilled team of mine finders, builders, and operators with extensive experience in Ghana.
Instructively, the company is listed on the Canadian Securities Exchange and the Ghana Stock Exchange. 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.
