Asante Gold Corporation provides the following update on the previously disclosed, unsolicited, non-binding expression of interest from Fujairah Holding LLC (“Fujairah”) to acquire all of the Company’s issued and outstanding common shares not held by Fujairah (the “Non-Binding Expression of Interest”).
On May 8, 2023, Asante announced that it had granted Fujairah exclusivity until May 15, 2023 in connection with the Non-Binding Expression of Interest. Asante has agreed to extend Fujairah’s exclusivity until 5:00 p.m. (Toronto time) on May 19, 2023 to provide further time for Fujairah to complete its due diligence review.
The Company confirms that the entering into of a confidentiality agreement with Fujairah and the grant of an extension to Fujairah’s exclusivity does not constitute Board support of the Non-Binding Expression of Interest.
The Company also confirms that it has no indication as to Fujairah’s intentions to submit any additional binding or non-binding proposal with respect to the acquisition of the Company’s common shares not held by Fujairah or any potential financing to be provided by Fujairah. Any such proposals, if received, would be reviewed by the Company, in consultation with the Company’s financial and legal advisors. The Company does not undertake any obligation to provide any updates with respect to the Non-Binding Expression of Interest or any other proposals, except as required under applicable law.