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     224  0 Kommentare ASANTE ANNOUNCES CLOSING OF ACQUISITION OF THE CHIRANO GOLD MINE IN GHANA

    Vancouver, British Columbia, Aug. 10, 2022 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE | GSE: ASG | FRANKFURT:1A9 | U.S.OTC:ASGOF) (“Asante” or the “Company”) is pleased to announce that, further to its news release dated April 25, 2022, it has closed the acquisition of all of the issued and outstanding shares in the capital of Red Back Mining Pty Ltd, which indirectly holds a 90% interest in the Chirano Gold Mine (“Chirano”) pursuant to a share purchase and sale agreement dated April 24, 2022, as amended, (the “Purchase Agreement”) among the Company, KG Africa B.V. (the “Vendor”), an indirect subsidiary of Kinross Gold Corporation (“Kinross”), and Kinross (the “Chirano Acquisition”). The Ghanaian government will continue to retain a 10% carried interest in Chirano.

    The aggregate consideration for the Chirano Acquisition is approximately US$225 million, subject to certain post-closing adjustments. In connection with the closing of the Chirano Acquisition (“Closing”), the Purchase Agreement was amended to, among other things, reduce the cash consideration payable by Asante on Closing. As a result of such amendment, the Company paid the Vendor US$60 million in cash and issued 34,962,584 common shares in the capital of the Company (“Common Shares”) to Kinross having a total value of approximately US$36.2 million based on a price of CAD$1.335 per Common Share, which is the volume-weighted average trading price of the Common Shares on the Canadian Securities Exchange for the 30 trading days ending August 9, 2022. The Vendor will also receive approximately US$128.8 million in cash in deferred consideration, of which (i) US$55 million will be payable within six months following the Closing, (ii) approximately US$36.9 million will be payable on or before the first anniversary of the Closing, and (iii) approximately US$36.9 million will be payable on or before the second anniversary of the Closing. Kinross has agreed that it will hold its Common Shares, which represent a 9.9% ownership interest in Asante on a non-diluted basis, for at least 12 months following the Closing.

    The payment of the deferred consideration noted above will be guaranteed on a limited recourse basis by certain of the companies acquired by Asante from the Vendor and secured by pledges of equity interests in certain of these companies, including Chirano Gold Mines Limited.

    The securities issued in connection with the Chirano Acquisition are subject to a hold period in accordance with applicable Canadian securities laws which will expire on December 11, 2022.

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    ASANTE ANNOUNCES CLOSING OF ACQUISITION OF THE CHIRANO GOLD MINE IN GHANA Vancouver, British Columbia, Aug. 10, 2022 (GLOBE NEWSWIRE) - Asante Gold Corporation (CSE:ASE | GSE: ASG | FRANKFURT:1A9 | U.S.OTC:ASGOF) (“Asante” or the “Company”) is pleased to announce that, further to its news release dated April 25, 2022, …

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