Asante Gold receives proceeds from $190 million in financing

Asante Gold Corporation (CSE: ASE) announced it has received net proceeds from multiple financing arrangements totaling approximately $190 million, according to a company statement.

The company closed a $125 million subordinated debt facility, a $50 million gold stream financing, and a $10 million non-brokered private placement of common shares to funds advised by Appian Capital Advisory Limited. Asante also completed a $5 million first utilization of a previously announced $150 million senior debt facility.

Under the private placement, Asante issued 9,484,828 common shares to Appian at a price equivalent to C$1.45 per share. The shares are subject to a four-month statutory hold period under Canadian securities laws, expiring December 14, 2025.

The transactions represent the first stage of funding under a $500 million financing package previously announced by the company on August 11, 2025. The company stated that a second utilization and full availability of the remaining $145 million capacity under the senior debt facility is expected to close by the end of August 2025.

Asante indicated it plans to use the proceeds for development and growth expenditures at its Bibiani and Chirano mines in Ghana, retirement of short-term liabilities, and general working capital purposes. The company previously made a $53 million payment to Kinross Gold Corporation on August 12, 2025.

The gold exploration and operating company maintains operations at the Bibiani and Chirano Gold Mines and is conducting technical studies at its Kubi Gold Project, all located in Ghana.

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