The company cancelled a US$40 million third tranche of its previously announced US$100 million non-brokered private placement as a result of the closing of the offering.

Further to a June statement, the company envisages securing a financing package comprised of a senior debt facility in the amount of US$150 million, a subordinated debt facility in the amount of up to US$125 million, and a gold stream financing in the amount of US$50 million.

The financing package is envisaged to include US$175 million in financing from private funds advised by Appian Capital Advisory Ltd. and a US$170 million credit and underwrite commitment from FirstRand Bank Limited. Appian participation is expected to include a US$40 million allocation to the Senior Debt Facility, a US$75 million allocation to the Subordinated Debt Facility, the US$50 million Gold Stream, and a US$10 million equity subscription at the offering price.

The company also plans to settle deferred consideration owed to Kinross Gold (K.TO) through a cash payment of approximately US$53 million.

Asante intends to use the net proceeds, together with the proceeds of the financing package, for development and growth expenditures at the Bibiani and Chirano mines, satisfaction of a cash payment to Kinross, the retirement of short-term liabilities and for general working capital purposes.

http://www.mtnewswires.com
Copyright © 2025 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.