May 3, 2013
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
Vancouver, British Columbia - May 3, 2013 - Asante Gold Corporation (TSX.V:ASE/ FRANKFURT:1A9)
(the “Company”) announces the approval and adoption by its Board of
Directors of an Advance Notice Policy (the “Policy”). The purpose of
the Policy is to provide shareholders, Directors and management of the
Company with a clear framework for nominating directors of the Company.
The Company is committed to: (i) facilitating an orderly and efficient
annual general or, where the need arises, special meeting, process; (ii)
ensuring that all shareholders receive adequate notice and information
of the Director nominees; and (iii) allowing shareholders to register an
informed vote after having been afforded reasonable time for
appropriate deliberation. The Policy is intended to further these
The Policy includes a provision that requires advance notice to the
Company in certain circumstances where nominations of persons for
election to the Board of Directors are made by shareholders of the
Company. The Policy fixes a deadline by which Director nominations must
be submitted to the Company prior to any annual or special meeting of
shareholders and sets forth the information that must be included in the
notice to the Company. No person will be eligible for election as a
Director of the Company unless nominated in accordance with the Policy.
In the case of an annual meeting of shareholders, notice to the Company
must be made not less than 30 days and not more than 65 days prior to
the date of the annual meeting; provided, however, that, in the event
that the annual meeting is to be held on a date that is less than 50
days after the date on which the first public announcement of the date
of the annual meeting was made, notice may be made not later than the
close of business on the 10th day following such public announcement.
In the case of a special meeting of shareholders called for the purpose
of electing Directors (whether or not called for other purposes), notice
to the Company must be made not later than the close of business on the
15th day following the day on which the first public announcement of
the date of the special meeting was made.
The full text of the Policy is available under the Company’s profile at www.sedar.com
and on the Company’s website (www.asantegold.com
) or upon request by contacting the Company’s Corporate Secretary, Janet Horbulyk, at (604)-558-1134.
The Policy is in effect as at the date of this news release. Pursuant
to the terms of the Policy, the Company will seek shareholder
ratification of the Policy at its next annual general meeting of
shareholders (the “Meeting”). If the Policy is not confirmed at the
Meeting, the Policy will terminate and be of no further force and effect
following the termination of the Meeting.
The Company also announces that it has entered into a loan agreement
with Goknet Mining Company Limited (“Goknet”) of Accra, Ghana. Pursuant
to the terms of the agreement, Goknet will loan the Company CDN$200,000
for working capital purposes, payable within 60 days of demand, with
interest payable on the unpaid principal at the rate of 5% per annum,
calculated yearly. The loan is not convertible into securities of the
Company. Goknet is a related party, as Douglas R. MacQuarrie is the CEO
of the Company and the Managing Director of Goknet.
Goknet has also informed the Company that its arbitration with PMI Gold
Corporation, with respect to PMI’s consent to the assignment of a 1% NSR
royalty interest on the Obotan Gold Mine project in Ghana held by
Goknet to the Company, is progressing with the full panel of arbitrators
now selected. The Goknet/PMI agreement calls for a decision of the
majority of the arbitrators to be made within 30 days. Further updates
will be issued when and as received.
On behalf of the Board,
“Douglas R. MacQuarrie”
President & CEO
About Asante Gold Corporation
Asante Gold Corporation (TSX.V:ASE/FRANKFURT:1A9) is a Vancouver based
gold exploration and royalty focused company, exploring the Fahiakoba
Concession located in the centre of Ghana’s Golden Triangle between
Perseus Mining’s 250,000 oz Au per year Edikan mine, and AngloGold
Ashanti’s 315,000 oz Au per year Obuasi mine.
For further information please contact:
Douglas MacQuarrie, President, tel: +1 604-558-1134; E-mail: firstname.lastname@example.org
Jag Sandhu, Director, Corporate Development, tel: +1 604-306-1950
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail: email@example.com
Kirsti Mattson, Media Relations, tel: +1 778-434-2241; E-mail: firstname.lastname@example.org
Europe: Florian Riedl-Riedenstein, Director, tel: +43 2774 28814; E-mail: email@example.com
This news release contains forward-looking statements which involve
known and unknown risks, delays and uncertainties not under the
Company’s control which may cause actual results, performance or
achievements of the Company to be materially different from the results,
performance or expectations implied by these forward-looking
statements. We Seek Safe Harbour.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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