01:13:44 EDT Fri 20 Sep 2019
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Ashanti Sankofa Inc
Symbol C : ASI
Shares Issued 44,400,860
Close 2019-04-22 C$ 0.025
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Ashanti arranges $250,000 private placement

2019-04-23 13:13 ET - News Release

Ms. Nancy Zhao reports


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 office.

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 Exchange.

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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