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VANCOUVER, British Columbia, March 16, 2021 (GLOBE NEWSWIRE) --
Asante Gold Corporation (CSE:ASE, OTC:ASGOF) ("Asante" or the "Company") announces a private placement to accredited and exempt investors (the "Private Placement") of up to 33,333,333 units at CAD$0.15 per unit (each a "Unit"), for gross proceeds of up to CAD$5.0 million.
Each Unit will consist of one common share of the Company (a "Common Share"), and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional Common Share at an exercise price of CAD$0.25 at any time during the 24 months following the closing date. The Company is relying on exemptions from the prospectus requirements and applicable securities laws to issue the shares. All securities purchased under this offering will be subject to a four month and one day hold period. Directors and officers of the Company may participate in the private placement. Proceeds from the placement will be used for working capital, and to further the exploration and development of the Company's Kubi, Fahiakoba, Betenase and Keyhole gold projects in Ghana.