Asante Gold Announces $1 Million Private Placement

Vancouver, British Columbia – September 22, 2016 – Asante Gold Corporation (CSE:ASE) announces its intention to complete an exploration campaign and working capital private placement (“Private Placement”) of up to 5,555,555 units of the Company at $0.18 per unit (each a “Unit”) for aggregate gross proceeds of $1 million.
Proceeds from the private placement will be used for general working capital, including drilling and other work programs on the Company’s Keyhole, Betenase, Fahiakoba and Kubi projects in Ghana. Finder’s fees may be payable on a portion of the offering. All securities purchased under this offering will be subject to a four month and one day hold period.
Douglas R. MacQuarrie, President & CEO states, “We plan on commencing an initial drill program on the MEM showing at our Keyhole project at the earliest opportunity. This showing has extensive artisanal workings, and to our knowledge has never been drilled. Historical underground sampling results of quartz reefs have reportedly graded to 8 metres of 25g/t Au (please see our news release: https://www.asantegold.com/news/asante-acquires-strategically-located-keyhole-gold-project-ghana). Geophysical surveys to outline additional targets in the vicinity of the showing will also commence, to be tested by an expected Phase 2 drill program.”
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