07:57 AM EDT, 06/18/2025 (MT Newswires) -- Asante Gold ( ASGOF ) overnight Tuesday said it received US$470 million in credit and equity commitments that when completed will recapitalize short-term liabilities and leave the company's growth plans fully funded.

The commitments include a US$175 million financing package from private funds advised by Appian Capital Advisory and a US$170 million credit and underwrite commitment from FirstRand Bank, acting through its Rand Merchant Bank division. A company statement noted that the commitments underpin a non-dilutive financing package that includes a US$150 million senior debt facility, up to US$125 million in subordinated debt, and US$50 million in gold stream financing.

"This comprehensive financing package will allow Asante to realize the true potential of our assets," said Asante Gold President and Chief Executive Dave Anthony. "This will clear the path to achieve our goal of gold production of more than 500,000 ounces per year by 2028 at significantly lower all-in sustaining costs, with over (US)$2 billion of free cash flow generation expected through 2029 as described in our recent five-year outlook. Our extensive land package at Bibiani and Chirano encompasses 80 kilometers of strike length on some of Ghana's most prospective ground, with significant exploration upside remaining."

The company also said it received conditional acceptance for the listing of its common shares on the TSX Venture Exchange, with the debut on the stock exchange expected in August.