03:37 PM EDT, 08/12/2025 (MT Newswires) -- Asante Gold ( ASGOF ) announced on Tuesday that it has received C$237 million in funds from a previously announced private placement, and completed the restructuring of certain obligations owing to Kinross (K.TO and KGC).

A statement noted satisfaction by Asante Gold ( ASGOF ) of escrow release conditions relating to the bought deal private placement of 163.3 million subscription receipts of the company at a price of C$1.45 each for aggregate gross proceeds of near C$237 million which was completed on July 7, 2025.

As part of the agreement, Asante restructured certain obligations owing to Kinross by paying it an aggregate of US$53 million in cash; issuing to Kinross an aggregate of 36,927,650 common shares at a deemed issue price of C$1.45 each; and issuing to Kinross a secured convertible debenture in a principal amount of approximately US$80 million. In connection with the foregoing, Kinross has also relinquished its existing security interest in the downstream entities that own the Chirano Mine in favour of a security package that is the same as, but subordinate to, that held by company's senior lenders.

Asante Gold ( ASGOF ) stated it intends to use the funds of the offering and together proceeds to develop and grow expenditures at the Bibiani and Chirano mines and for general working capital purposes.

Asante shares are down 1.7% on the announcement, while Kinross Gold ( KGCRF ) is up 1.1%

Price: 26.57, Change: +0.21, Percent Change: +0.80