Asante GOLD Private Placement Closed
ASANTE GOLD PRIVATE PLACEMENT CLOSED
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
FOR IMMEDIATE RELEASE SHARES ISSUED: 86,563,257
Vancouver, British Columbia – October 26, 2020 – Asante Gold Corporation ( CSE:ASE/
FRANKFURT:1A9/U.S.OTC:ASGOF) (“Asante” or the "Company") announces that it has
closed the working capital private placement announced October 19, 2020, for aggregate gross
proceeds of $1,350,000.
A total of 13,500,000 units at a price of $0.10 per unit were placed with two subscribers. 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
$0.22 until October 21, 2022. All securities issued under this offering are subject to a four month
and one day hold period.
Nadia Abdul Aziz, an accredited investor resident in Ghana, purchased 13,000,000 units of the
offering representing 13.06% of the issued shares of the Company on a partially diluted basis
(10.68% fully diluted), and has agreed with the Company to not exercise any warrants that would
cause her to hold or exercise control on more than 19.9% of the then issued share capital of the
Company, unless otherwise permitted under Securities legislation.
Mrs. Aziz is a focused and result -driven finance professional with many years of experienc e in
government relations, communications, marketing and acquisitions through-out West Africa. As a
Director of Indussi Resources, a private Ghana based project originator and developer, she has
played a key role in the acquisition of significant mineral concessions and in mine development.
Mrs. Aziz states: "Asante and its associated companies have interests in many high potential gold
exploration and near-term development opportunities, with experienced management and advisors
that have a history of majo r exploration success. These attributes combined with our financial
strength and in country knowledge we believe will make a winning team."
Proceeds from the placement will be used for further exploration on the Company’s gold
exploration and development projects in Ghana, to complete a work program to evaluate the
surface oxide gold potential of the 513 zone at Kubi and for general corporate working capital
purposes.
"Douglas R. MacQuarrie"
President and CEO
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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]
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.