Asante Gold announces conversion of convertible debentures

Asante Gold (ASGOF) announces that Kinross Gold Corporation (KGC), the holder of a secured convertible debenture issued on August 12, has elected to convert the entire principal amount of the Convertible Debenture, together with accrued and unpaid interest thereon, in the amount of approximately $80M into common shares of the Company in accordance with the terms of the Convertible Debenture. Under the terms of the Convertible Debenture, the Canadian dollar equivalent of the Conversion Amount is convertible into Shares at a price of C$1.81 per Share. As a result, the Company will be issuing an aggregate of 61,735,867 Shares to Kinross. Upon conversion, all obligations relating to the Convertible Debenture have been extinguished and the Convertible Debenture is no longer outstanding.