Emiral Resources Ltd. took part in a private placement of common shares of the Asante Gold Corp. Emiral subscribed for an additional 12,249,208 shares at a price of $1,75 per share, maintaining its cornerstone investment.
Funds will be used for initial mine development costs and as working capital for the Bibiani Mine project located in Ghana. All securities issued will be subject to a four month and one day hold period under Canadian securities legislation. Emiral Resources currently controls a total of 19,93% in Asante.