Asante raises C$136m from strategic investor
Canadian miner Asante Gold on Wednesday announced an equity financing agreement with a strategic investor to raise C$136-million.
The company, which operates the Bibiani and Chirano gold mines in Ghana, will sell, on a non-brokered private placement basis, 90.67-million shares at C$1.50 each.
Closing of the offering would occur in three tranches, with the first $25-million tranche set to close on October 15.
The funds will be used for growth and development initiatives at the Bibiani and Chirano mines, as well as acquisition opportunities and refinancing of liabilities.
“This offering is a significant component of the comprehensive financing initiative that Asante has advanced. Another component, the Ghanaian bond programme, was announced on September 19. This initiative is also advancing in good order,” stated president and CEO Dave Anthony.
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