Asante has not entered into any agreements or arrangements in respect of such first tranche. The use of proceeds from the Ghana Bond Offering may include the funding of growth initiatives and operating expenditures at the Bibiani and Chirano mines, acquisition opportunities, and refinancing of liabilities. "We are excited to be launching this bond program which would provide Ghanaian investors with a unique opportunity to gain exposure to Asante, as we work to grow Bibiani-Chirano into Africa's next Tier One gold district with annual production of more than 500,000 ounces of gold anticipated by 2028 1 ," stated Dave Anthony, Asante's President and CEO, who added, "We look forward to updating the market on our progress as part of our broader financing initiative to fund the Company's growth initiatives and recapitalization of short-term liabilities."