Asante Gold Corporation announces that Kinross Gold Corporation (“Kinross”) announced today that it had sold an aggregate of 29,850,984 common shares (“Shares”) of Asante representing approximately 4.2% of the outstanding Shares of Asante and approximately 44.7% of the Shares held by Kinross in the Company. The Shares were sold at a price per Share of $1.55, a 10% discount to the closing price of the Shares on Friday, September 5, 2025. Prior to the sale, Kinross held approximately 9.4% of the outstanding Shares and up to 18% of the Shares, on a partially-diluted basis, assuming conversion of all convertible instruments held by Kinross. After the sale, Kinross holds 36,927,650 Shares, 5,000,000 warrants to purchase Shares and a convertible debenture which is convertible into Shares at the option of Kinross at any time for a period of five years from the date of issuance at a conversion price equal to C$1.81 per Share. Kinross now owns approximately 5.2% of Asante’s outstanding Shares, on a non-diluted basis, and 13.2% of the outstanding Shares, on a partially diluted basis assuming the conversion of the convertible securities of Asante held by Kinross.
Dave Anthony, President and CEO of Asante stated, “This block of Shares was issued to Kinross as partial consideration when the Company purchased the Chirano Mine from Kinross in 2022. Kinross has been and remains a very supportive partner to Asante and we’re pleased that Kinross has been able to monetize this component of the original share consideration at an increase to the original value.”
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