Asante Gold Signs US$5 Million Investment Into West African-Focused Roscan Gold

Asante Gold Corporation (CSE: ASE) announced on Thursday that it has entered into a binding term sheet earmarking a US$5.0 million “strategic investment” into West Africa-focused gold explorer, Roscan Gold Corporation. The move sets the stage for Asante Gold to grow its reach in the African gold exploration market.

Under the term sheet, the firm has agreed to purchase 22.1 million Roscan Gold common shares at $0.29 per share, a 14% premium to its share price on September 22, 2021. At the transaction’s close, Asante Gold is expected to own approximately 6.7% of the outstanding Roscan Gold common shares.

“Roscan’s 100% owned Kandiole Gold Project in West Mali is located in one of the most prolific and productive gold jurisdictions in Africa,” said Asante Gold CEO Douglas MacQuarrie. “With this investment, Asante’s shareholders gain exposure to Roscan’s large exploration upside, and at a very attractive entry point.”

Related to this planned investment, the two gold exploration firms also entered into an investors rights agreement which will give Asante Gold a possible right to appoint a member in Roscan Gold’s board, subject to time and ownership thresholds.

The investment transaction is expected to close on October 15, 2021, subject to customary closing conditions.

Asante Gold last traded at $1.13 on the CSE.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Asante Gold Guides To 339,000 Oz Gold Production In 2025, Targets 500,000 Oz By 2028

Asante Gold (CSE: ASE) has released a new five year outlook for its operation in...

Monday, May 5, 2025, 09:16:48 AM

Kinross Gold Closes Sale Of Ghana Operations For $225 Million To Asante Gold

Kinross Gold (TSX: K) has continued on its process of divesting of certain mining assets...

Thursday, August 11, 2022, 09:30:05 AM

Kinross Sells Chirano Mine For $225 Million To Asante Gold

Kinross Gold (TSX: K) continues to monetize assets. The company this morning announced that it...

Monday, April 25, 2022, 09:20:27 AM

Roscan Gold Reports Closing Of $6.4 Million Strategic Investment By Asante Gold

Roscan Gold Corporation (TSXV: ROS) announced today the completion of the previously announced strategic investment...

Friday, October 15, 2021, 10:22:00 AM

Roscan Gold Continues To See Positive Drilling Results At West African Gold Property

On April 19, Roscan Gold Corporation (TSXV: ROS) reported constructive assay results from its 12-hole,...

Friday, April 23, 2021, 02:39:00 PM