12:40 PM EDT, 10/08/2025 (MT Newswires) -- Asante Gold ( ASGOF ) on Wednesday said Kinross Gold ( KGCRF ) converted US$80 million of convertible debentures in the company into 61.74-million shares.

Under the conversion terms, the Canadian dollar equivalent is convertible at $1.81 per share. Asante did not detail Kinross' ownership stake in the company following the conversion.

"This debenture conversion strengthens our balance sheet by eliminating debt and removing the potential overhang from our recently completed financing, and we look forward to executing our plans to advance our expansion projects at both Bibiani and Chirano, where we remain focused on growing high-grade gold ounces," chief executive Dave Anthony said.

Shares of Asante Gold ( ASGOF ) were last seen up by $0.06 to $2.46 on the TSX Venture Exchange.

Price: 2.44, Change: +0.04, Percent Change: +1.67