Asante Announces Receipt of $125M Senior Debt Second Utilization and Completion of $500M Financing Package

Asante Announces Receipt of $125M Senior Debt Second Utilization and Completion of $500M Financing Package

Benzinga
August 25, 2025

VANCOUVER, British Columbia, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE, GSE: ASG, FRANKFURT:1A9, OTCQX:ASGOF) ("Asante" or the "Company") is pleased to announce that, further to its news release dated August 11, 2025 announcing the execution of definitive agreements relating to an approximately $500 million ("M") financing package (the "Financing Package"), the Company has completed and received the net proceeds from a $125M second utilization under its $150M senior debt facility (the "Senior Debt Facility"). As previously announced, a $5M first utilization under the Senior Debt Facility was completed on August 14, 2025. The Company is also pleased to announce the full availability of the revolving credit facility in the amount of $20M under the Senior Debt Facility. All amounts are in U.S. dollars unless otherwise indicated.

As a result, the Company has now completed its $500M Financing Package. For more information on the Financing Package, including a summary of the terms of the Senior Debt Facility, please refer to the Company's news release dated August 11, 2025.

"Closing this financing is transformative for Asante," said Dave Anthony, President and CEO. "With $500 million in capital secured, we are well-positioned to execute on our growth plans for Bibiani and Chirano, targeting annual gold production over 500,000 ounces by 2028 at significantly lower all-in sustaining costs. We remain focused on disciplined execution and delivering results for shareholders as these funds are deployed immediately."

The Company intends to use the net proceeds of the Financing Package for development and growth expenditures at the Bibiani and Chirano mines, a cash payment to Kinross which was satisfied on August 12, 2025, the retirement of short-term liabilities and for general working capital purposes.

Price Protection Program

To satisfy the conditions precedent to full availability of the Senior Debt Facility, the Company has completed a price protection program ...

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