Ms. Nancy Zhao reports
ASHANTI SANKOFA INC ANNOUNCES PRIVATE PLACEMENT
Ashanti Sankofa Inc. is proceeding with a non-brokered private placement of up to 8,333,333 units
at a price of three cents for gross proceeds of $250,000, pursuant to a discretionary waiver of the
five-cent minimum pricing requirement granted by the TSX Venture Exchange. Each unit
will consist of one common share and one transferable share purchase warrant exercisable for a term of two
years at price of five cents per share.
Proceeds of the offering will be used to pursue mining licences, mine site expenditures, hiring of
consultants and geologists, exploration work in Ghana, and general and administrative expenses for its head
Closing of the offering, which is expected to occur by May 18, 2019, is subject to a number of conditions,
including receipt of all necessary corporate and regulatory approvals, including that of the TSX Venture
All securities issued in connection with the offering will be subject to a statutory hold period of four months
plus a day from the date of issuance in accordance with applicable securities legislation.
We seek Safe Harbor.
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