Kinross Gold Corporation announced the sale of 36,927,650 common shares of Asante Gold Corporation. These shares represented approximately 5.2% of Asante's outstanding shares and 100% of the common shares held by Kinross.
The shares were sold at a price of C$1.98 per share, excluding commission, resulting in an aggregate sale price of C$73,116,747. Prior to this sale, Kinross held approximately 5.2% of Asante's outstanding shares on a non-diluted basis.
Following the sale, Kinross remains a supportive investor in Asante through its convertible instruments, which represent approximately 8.4% of the outstanding shares on a partially diluted basis. This transaction allows Kinross to realize significant cash proceeds while maintaining a strategic interest in Asante Gold.
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