The previously announced private placement of Asante Gold Corporation has been completed.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Asante Gold Corporation has completed its previously announced bought deal private placement, raising gross proceeds of C$179.4 million to support expansion activities at its Bibiani and Chirano operations in Ghana.

The company issued 112.13 million common shares at C$1.60 per share, following the full exercise of the underwriters’ option.

The brokered offering was led by BMO Capital Markets as sole bookrunner, alongside National Bank Financial and Clarus Securities.

Under the transaction, the underwriters received cash commissions of about C$9.85 million, equivalent to 5.5% of the gross proceeds, excluding subscriptions from investors on the company’s President’s List.

Source: newsthemegh.com