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    6073   JP3117350003

ASANTE INCORPORATED

(6073)
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Asante Gold : Private Placement Announced

10/20/2020 | 10:47am EDT

Vancouver - Asante Gold Corporation (CSE: ASE/ FRANKFURT: 1A9/U.S.OTC: ASGOF) ('Asante' or the 'Company') announces a private placement to accredited and exempt investors (the 'Private Placement') of up to 13,000,000 units at $0.10 per unit (each a 'Unit'), for aggregate gross proceeds of up to $1,300,000.

Each Unit will consist of one common share of the Company (a 'Common Share'), and one Common Share purchase warrant (a 'Warrant'). Each Warrant will entitle the holder to purchase one additional Common Share at an exercise price of $0.22 at any time during the 24 months following the closing date. The Company is relying on exemptions from the prospectus requirements and applicable securities laws to issue the shares. All securities purchased under this offering will be subject to a four month and one day hold period. Directors and officers of the Company may participate in the private placement. Any such participation would be considered to be a 'related party transaction' as defined under Multilateral Instrument 61-101 ('MI 61-101').

Proceeds from the placement will be used to further exploration on the Company's Ghana gold projects and for general working capital purposes.

'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.

Contact:

Douglas MacQuarrie

Tel: +1 604-558-1134

Email: douglas@asantegold.com

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ASANTE GOLD CORPORATION 1.32% 0.385 Delayed Quote.250.00%
ASANTE INCORPORATED 0.06% 1765 End-of-day quote.18.14%
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Managers and Directors
NameTitle
Sei Miyauchi President, Representative Director & GM-Sales
Atsushi Nishiyama Director & General Manager-Compliance
Masami Iishiba Managing Director & GM-Administration
Katsumi Uchida Independent Outside Director
Shigeharu Dogakinai Independent Outside Director
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