Asante GOLD Closes Private Placement
ASANTE GOLD CLOSES PRIVATE PLACEMENT
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
FOR IMMEDIATE RELEASE SHARES IS SUED: 64,055,757
Vancouver, British Columbia – September 5, 2019 – A sante Gold Corporation (CSE:ASE/
FRANKFURT:1A9) (“Asante” or the "Company") announces that it has f ully subscribed and
closed the working capital private placement announ ced June 10, 2019, for aggregate gross
proceeds of $250,000.
A total of 5,000,000 units at $0.05 per unit were placed. Each unit consists of one common share
of the Company, and one common share purchase warra nt. Each warrant entitles the holder to
purchase one additional common share at an exercise price of $0.08 until September 4, 2022. Each
warrant is subject to early forced conversion once the shares trade at a volume weighted average
price of $0.20, for 20 consecutive trading days. Th e expiry date of the warrants will be 30 days
from the date of issue of a news release announcing the early conversion. An arm’s length finders’
fee of $10,225 and 205,100 warrants are payable in respect of the offering. All securities issued
under this offering are subject to a four month and one day hold period expiring January 4, 2020.
A Director of the Company participated in the priva te placement for 500,000 units. This
participation would be considered to be a “related party transaction” as defined under Multilateral
Instrument 61-101 (“MI 61-101”). The transaction i s exempt from the formal valuation and
minority shareholder approval requirements of MI 61-101 as neither the fair market value of the
units issued to or the consideration paid by the Di rector do not exceed 25% of the Company’s
market capitalization.
On behalf of the Board,
"Douglas R. MacQuarrie"
President and CEO
About Asante Gold Corporation
Asante is continuing to develop its Kubi Gold Mine project towards production, and is exploring its Ke yhole,
Fahiakoba and Betenase concessions/options for new discoveries, all adjoining or along strike of major gold mines
near the centre of Ghana’s Golden Triangle.
For further information please contact:
Douglas MacQuarrie, President and CEO, tel: +1 604-558-1134; E-mail: [email protected]
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail: [email protected]
Valentina Gvozdeva, Business Development, E-mail: [email protected]
Florian Riedl-Riedenstein, Director; European Investor Relations, E-mail: [email protected]
Additional information is available on our web site at: www.asantegold.com
LEI Number: 529900F9PV1G9S5YD446. Neither IIROC nor any stock exchange or other secur ities regulatory
authority accepts responsibility for the adequacy or accuracy of this release.