Asante Gold Corporation (ASG) has increased its shares outstanding to 893.6 million following multiple capital transactions between August 2025 and January 2026, including a major private placement that raised 179 million Canadian dollars.
The company announced on January 6 that it issued 112.1 million shares through a Bank of Montreal (BMO) bought deal private placement, which became the largest single transaction during the period under review. The placement brought total shares outstanding from 781.5 million to 893.6 million.
Asante’s shares stood at 712.7 million as of August 13, 2025. The company executed seven separate transactions over the following months that expanded its share base by 180.9 million shares, representing a 25.4 percent increase.
The most significant transaction before the BMO placement occurred on October 7 when Asante issued 61.7 million shares following conversion of a Kinross Convertible Debenture. This raised the share count from 713 million to 774.7 million.
On October 28, the company issued 4.25 million shares through exercises of restricted share units (RSUs) and deferred share units (DSUs). Additional option exercises in September, December and January added another 1.1 million shares combined.
The largest DSU exercise took place on December 15 when 1.68 million shares were issued, bringing the total to 781.5 million before the major BMO placement in early January.
Asante Gold Corporation is a Canadian based mineral exploration and gold production company operating mines in Ghana. The company runs the Bibiani and Chirano Gold Mines while continuing technical studies at its Kubi Gold Project. All assets are located on the Bibiani and Ashanti Gold Belts.
The company trades on the TSX Venture Exchange (TSXV) in Canada under the symbol ASE, on the Ghana Stock Exchange (GSE) as ASG, on the Frankfurt Stock Exchange as 1A9, and over the counter in the United States (US) as ASGOF.
Asante completed a 206 million Canadian dollar bought deal financing in early January 2026 through BMO Capital Markets as lead underwriter. The transaction priced shares at 1.60 Canadian dollars each, with 103.4 million shares sold to institutional investors and another 8.625 million shares agreed for sale to Executive Chairman Malik Easah.
The shares issued under the brokered offering are subject to a four month statutory hold period under Canadian securities laws, expiring on May 7, 2026. The chairman’s purchase requires separate approval from TSXV and is expected to close around January 30, 2026.
In September 2025, Kinross Gold sold its entire stake of 36.9 million common shares in Asante Gold, representing approximately 5.2 percent of outstanding shares at the time and 100 percent of shares held by Kinross.
Asante switched its primary Canadian listing from the Canadian Securities Exchange (CSE) to the TSXV on September 23, 2025. The company was delisted from CSE at market close that day and began trading on TSXV the following trading session.
The company targets production of approximately 450,000 ounces of gold in 2026 from its combined Bibiani and Chirano operations. Asante’s five year outlook aims for production around 500,000 ounces per year by 2028 and more than 2 billion US dollars in cumulative unlevered free cash flow.
Asante Gold was incorporated in 2011 and maintains its headquarters in Vancouver, British Columbia. The company generated revenue of 458.9 million US dollars in 2024, an increase of 7.7 percent from 426.1 million US dollars in 2023.
As of early January 2026, Asante Gold’s market capitalization stood at approximately 1.49 billion Canadian dollars based on its TSXV trading price.
