INVESTMENT HIGHLIGHTS

Appian has provided Asante Gold with a secured financing package to support the expansion of its Bibiani and Chirano gold mines in Ghana.

Asante is a gold exploration, development and operating company with a high-quality portfolio of assets in Ghana, including Bibiani and Chirano. The mines are positioned for significant production growth through new infrastructure investment and a transition to predominantly underground mining. Asante’s land packages at the two assets also span an 80-kilometre strike length of highly prospective land, with significant exploration upside to extend the currently life of mine at both Bibiani and Chirano.

Appian’s financing package comprises of:

• US$40 million commitment to a senior secured debt facility
• US$75 million subordinated loan
• US$50 million gold stream agreement
• US$10 million non-brokered private placement of common shares

The creative blended financing structure demonstrates Appian’s ability to provide bespoke and value-add capital solutions to its partners while optimizing risk-adjusted returns for its investors.

The financing will enable Asante to double production over the coming years and provide exposure to prevailing gold prices. Asante’s management team has extensive experience and a strong track record of building and operating gold mines in Ghana and across Africa, and plans to test the prospective geology at both Bibiani and Chirano to further extend mine life. The Company has fostered strong relationships with the host communities at the Bibiani and Chirano mines, with investments in environmental and community development projects focused on education, healthcare, infrastructure and economic empowerment, minimizing its environmental footprint and providing lasting socio-economic benefits.

For more information about Asante Gold please click here.