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Asante Gold Corporation (CSE:ASE) Announced a Non-Brokered Private Placement

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The company is looking to raise gross proceeds of up to $1.3 million from the placement of up to 13 million units priced at $0.10 per unit. The units consist of 1 share and 1warrant, with each warrant exercisable at $0.22 for 24 months.

Additional Information:

Company: Asante Gold Corporation
Website: http://www.AsanteGold.com
Stock Symbol: CSE: ASE
Date Published: Oct 19, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Asante Gold Corporation has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $1.3 million from the placement of up to 13 million units priced at $0.10 per unit.

The units consist of 1 share and 1warrant, with each warrant exercisable at $0.22 for 24 months.

The shares are currently trading at $0.095.

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

Asante is active in Ghana, which in 2015 was ranked 6th in Africa on the World Bank’s Ease of Doing Business barometer.

Gold has been continuously mined in Ghana for centuries since it was part of the old Mali Empire in the 14th century, and in more recent times when it was known as the Gold Coast.

Asante is continuing to source funding to expand and develop its Kubi Gold project to production,

The company’s current focus is to put its high grade Kubi Gold mine back into production at from 25,000 to 50,000 ounces per year using either conventional decline access underground mining, or as a Green Mining operation utilizing the new ‘SMD – Sustainable Mining by Drilling’ direct mining from surface using large bore drilling by Novamera Inc.

The Kubi Gold project has a current NI 43-101 Measured + Indicated resource of 233,000 ounces of gold @ 5.48 grams per tonne and 115,000 ounces @ 5.31 grams per tonne in the inferred category.

The company is also 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.

For more information, please visit the company’s website at www.AsanteGold.com, contact Douglas MacQuarrie, President and CEO, At 604-558-1134 or by email at douglas@AsanteGold.com.

Valentina Gvozdeva, Business Development, at 604-558-1134 or email valentina@asantegold.com

Doreen Kent, Shareholder Communications, at 604-948-9450 or email d.kent@eastlink.ca.

I’m Megan Edwards for Investmentpitch Media