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 ISSUED: 66,545,757
Vancouver, British Columbia – March 13, 202 0 – Asante Gold Corporation ( CSE:ASE/
FRANKFURT:1A9) (“Asante” or the "Company") announces that it has closed the working
capital private placement announced January 13, 2020, for aggregate gross proceeds of $124,500.
A total of 2,490,000 units at $0.05 per unit were placed. Each unit consists of one common share
of the Co mpany, and one common share purchase warrant. Each warrant entitles the holder to
purchase one additional common share at an exercise price of $0.06 until March 12, 2022. Each
warrant is subject to early forced conversion should the shares trade at a volume weighted average
price of $0.20, for 20 consecutive trading days. The 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 $4,375 and 87,500 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 July 13, 2020.
A Director of the Company participate d in the private placement for 200,000 units. This
participation would be considered to be a “related party transaction” as defined under Multilateral
Instrument 61 -101 (“MI 61 -101”). The transaction is 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 p aid by the Director 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 source funding to expand and develop its Kubi Gold project to production, and is exploring
the Keyhole, 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]
Valentina Gvozdeva, Business Development, E-mail: [email protected]
Florian Riedl-Riedenstein, Director; European Investor Relations, E-mail: [email protected]
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; 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 securities regulatory
authority accepts responsibility for the adequacy or accuracy of this release.