Loading ...Asanko Gold Completes US$17.6 Million Private Placement by Gold Fields for 9.9% Interest in Asanko
VANCOUVER, British Columbia, April 05, 2018 (GLOBE NEWSWIRE) — Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) is pleased to announce that it has completed the previously announced private placement with Gold Fields Limited (“Gold Fields”) (JSE:GFI) (NYSE:GFI), pursuant to which a subsidiary of Gold Fields has acquired a 9.9% interest in Asanko. The private placement involved the issue of 22,354,657 common shares of Asanko at a price of approximately US$0.79 (C$1.01) per share for total aggregate proceeds of US$17.6 million.
Concurrent with the completion of the private placement, Asanko entered into an investor rights agreement with the Gold Fields subsidiary which provides certain rights to Gold Fields to participate in future Asanko share issuances in order to maintain its 9.9% shareholding for up to five years. In addition, Gold Fields has agreed that it will standstill at this level of ownership for a one year period unless Asanko otherwise consents, and will support Asanko management nominees at shareholder meetings.