07:58 AM EDT, 08/11/2025 (MT Newswires) -- Kinross Gold ( KGCRF ) traded 2.2% lower at last look Monday in NYSE pre-market trading as the company is set to increase its stake in Asante Gold ( ASGOF ) .

The two companies agreed to amend a 2022 share purchase agreement in a transaction that includes US$55 million in cash payments.

Under the terms, Asante will issue 36,927,650 shares priced at C$1.45 apiece. The company will also issue a convertible debenture priced at C$1.81 per share for five years.

Following the transaction, Kinross' stake in Asante is expected to increase to up to 18% from 6.9% on a partially diluted basis.

With Kinross expected to acquire over 10% of Asante, Kinross said it currently has no other plans or intentions related to its investment in Asante.