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Asante Gold closes final tranche of private placement

Thursday, March 2, 2017 13:15
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Asante Gold Corp (CNSX:ASE, CVE:ASE) has closed the third and final tranche of a private placement originally announced last September, the company said on Thursday.

The company raised a total of C$1,250,006 by the issuance of 6,944,477 units at 18 cents per unit.

Proceeds from the private placement will be used for general working capital, including drilling and other work programs on the company’s Keyhole, Betenase, Fahiakoba and Kubi projects in Ghana. All securities purchased under this offering will be subject to a four-month-and-one-day hold period.

Each unit consists of one common share and one-half of a share purchase warrant. Each whole share purchase warrant is exercisable to acquire an additional common share for a two-year period from the date of issuance at a price of 25 cents per share.

The company paid total finders’ fees of C$18,210 and issued 112,055 broker warrants, carrying the same terms and conditions as the warrant comprising the units.

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