Fujairah Holding LLC made an non-binding expression of interest to acquire remaining 88.57% stake in Asante Gold Corporation (CNSX:ASE) for approximately CAD 730 million on April 20, 2023. Fujairah to acquire remaining stake at a price of CAD 2.2 per share in cash. Expression of Interest is subject to the fulfilment of a number of conditions, including the completion of satisfactory due diligence during a lengthy exclusivity period, negotiation of a definitive agreement, and receipt of all required regulatory and shareholder approvals. In response to the Non-Binding Expression of Interest, Asante Board formed a special committee of independent directors (the “Special Committee”) to review the Non-Binding Expression of Interest.

Fujairah Holding LLC cancelled the acquisition of remaining 88.57% stake in Asante Gold Corporation (CNSX:ASE) on April 20, 2023. Following a review, in consultation with financial and legal advisors, Asante Board has determined that the Non-Binding Expression of Interest is highly conditional and fails to address Asante's near-term financing requirements and is not in the best interests of the Company or its shareholders.