Asante Gold Corporation has engaged Black Star Advisors of Accra Ghana to act as its financial advisor in connection with the company’s proposed secondary listing on the Ghana Stock Exchange.
In connection with this listing, and on the basis of the strong interest so far received, the company will seek to raise up to US$3million on terms to be determined in the context of the market at that time.
Funds raised will be applied to working capital, and in particular to advance operations at its Kubi Gold Mine project and for aggressive exploration at Kubi and its other prospecting licenses and options in Ghana.
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There can be no assurance that this financing will be completed.
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Given the dynamics of the company’s recently strengthened Board of Directors and the strong desire of local investors to participate directly in the growth of Ghana’s mining industry, the company believes the timing is right to extend its trading beyond Canada and Frankfurt to Ghana, Africa’s number one gold producer.
Douglas MacQuarrie, CEO states:
“Fostering a domestic stock exchange to fund local mining exploration and development is part of a much bigger transformation now occurring in Ghana and throughout Africa.
“The recently concluded African Continental Free Trade Area (AfCFTA) is a statement to the world that Africa is rising and over the next 40 years is projected to be one of the world’s largest trade and economic zones – a market of 1.2 billion people with a combined gross domestic product estimated at US$2.5 trillion.Asante chooses to be on the leading edge of this transformation.”