Key Developments: Asanko Gold Inc (AKG.A)

AKG.A on American Stock Exchange

1.90USD
17 Oct 2014
Price Change (% chg)

$0.02 (+1.06%)
Prev Close
$1.88
Open
$1.88
Day's High
$1.98
Day's Low
$1.87
Volume
9,250
Avg. Vol
16,417
52-wk High
$2.76
52-wk Low
$1.56

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Latest Key Developments (Source: Significant Developments)

Asanko Gold Inc announces appointement of Colin Steyn as Chairman
Monday, 3 Mar 2014 07:00am EST 

Asanko Gold Inc:Appoints Colin Steyn as Chairman.Other members of the Board are Peter Breese (President and CEO), Peter Bradford, Gordon Fretwell, Marcel de Groot, Michael Price and Shawn Wallace.  Full Article

Asanko Gold Inc completes acquisition of PMI Gold Corporation
Thursday, 6 Feb 2014 06:30am EST 

Asanko Gold Inc:Says the completion of Asanko's acquisition of PMI by way of a plan of arrangement.Says pursuant to the Arrangement, Asanko acquired all of the issued and outstanding common shares of PMI, such that PMI is now a wholly-owned subsidiary of Asanko.Says the consideration consisting of 0.21 common shares of Asanko for each outstanding PMI Share.  Full Article

Asanko Gold Inc to acquire PMI Gold Corp
Tuesday, 17 Dec 2013 06:30am EST 

Asanko Gold Inc and PMI Gold Corp:Says they have entered into a definitive agreement whereby Asanko will acquire all of the common shares of PMI.  Full Article

Asanko Gold Inc's Esaase Gold Project Fully Funded With $150 Million Debt Facility
Thursday, 24 Oct 2013 06:30am EDT 

Asanko Gold Inc announced that it has entered into a Definitive Senior Facilities Agreement with a special purpose vehicle of Red Kite Mine Finance Trust I to provide a secured project debt facility for a total of $150 million. The project debt facility will be used for the development, construction and working capital requirements of the Esaase Gold Project. There are no gold hedging provisions, cash sweep requirements or restrictions usually associated with traditional project finance facilities of this nature that prevent the Company from pursuing its growth strategy. Prior to the execution of the Agreement, Red Kite conducted substantial technical and legal due diligence and as such, the Agreement is not subject to further due diligence. The Agreement provides for two term loan facilities: a $130 million term loan facility and a $20 million cost overrun facility. The Overrun facility is provided as an option available to the Company, should it be required. Performance under the Agreement is fully secured by the assets of the Company's current subsidiaries and guaranteed by the Company until project completion.  Full Article

Keegan Resources Inc Changes Name to Asanko Gold Inc
Thursday, 28 Feb 2013 06:30am EST 

Keegan Resources Inc announced that effective March 1, 2013 the Company will operate under the name Asanko Gold Inc.  Full Article

PMI Gold Corporation And Keegan Resources Inc. Agrees To Terminate Merger Plans
Monday, 18 Feb 2013 05:20pm EST 

PMI Gold Corporation announced that the Company and Keegan Resources Inc. have terminated the arrangement agreement (the Arrangement Agreement) they entered into on December 5, 2012 in accordance with its terms. This decision comes as a result of the mutual determination of PMI and Keegan that it is unlikely that PMI’s shareholders will approve the transactions contemplated by the Arrangement Agreement. The termination of the Arrangement Agreement is not on account of any differences arising between the respective boards about valuation issues or on account of any new facts having come to their attention. PMI and Keegan have agreed that no termination fee will be payable as a result of the mutual termination of the Arrangement Agreement and the parties have released each other from all obligations in respect of the Arrangement Agreement.  Full Article

PMI Gold Corporation Updates On Merger Agreement With Keegan Resources Inc
Friday, 1 Feb 2013 05:34am EST 

PMI Gold Corporation and Keegan Resources Inc. announced that it has entered into a definitive arrangement agreement, under which both companies will combine their respective businesses to create a West African gold development company. The combined company will continue under the name Asanko Gold Inc. (Asanko) - a name which reflects the West Ghana region in which the two companies hold their principal gold projects - and is expected to have an aggregate market capitalization in the $700 million range. Each company's Board of Directors has unanimously approved the terms of the proposed Merger and recommends that their respective shareholders vote in favour of the Merger. In addition, directors and officers of both companies have entered into voting lock-up agreement to vote in favour of the Merger.  Full Article

PMI Gold Corporation And Keegan Resources Inc. Announce Interim Order for Merger Of Equals
Thursday, 17 Jan 2013 05:30pm EST 

PMI Gold Corporation and Keegan Resources Inc. announced that further to the previously announced merger of equals between the two companies, an interim order of the Supreme Court of British Columbia has been obtained. The Interim Order provides for, among other things, the calling and the holding of a special meeting of shareholders of PMI to consider and approve the Arrangement. The granting of the Interim Order was a condition to the completion of the Merger.  Full Article

PMI Gold Corporation And Keegan Resources Inc Announces Merger Agreement
Wednesday, 5 Dec 2012 06:45am EST 

PMI Gold Corporation and Keegan Resources Inc. announced that they have entered into a definitive arrangement agreement to combine their respective businesses (the Merger) and to create a West African gold development company. The combined company will continue under the name Asanko Gold Inc., reflective of the West Ghana region in which the two companies hold their principal gold projects. Asanko will be led by Peter Breese, the current President and CEO of Keegan and Collin Ellison, the current Managing Director and CEO of PMI. Under terms of the Merger (which will be effected by means of a statutory plan of arrangement of PMI), each PMI shareholder will receive 0.21 Asanko shares for each PMI share (the Exchange Ratio). As Keegan is the surviving corporate entity, existing Keegan security holders will not need to exchange their securities in the Merger. Existing Keegan and PMI shareholders will each own approximately 50% of the combined company, inclusive of currently in-the-money dilutive securities. PMI has retained Macquarie Capital Markets Canada Ltd. to act as financial advisor and Stikeman Elliott LLP to act as legal advisor. Keegan has retained Canaccord Genuity to act as financial advisor and McMillan LLP to act as legal advisor.  Full Article

Keegan Resources Inc Non-Brokered Private Placement With Highland Park
Monday, 5 Nov 2012 06:30am EST 

Keegan Resources Inc announced that it has completed its previously announced non-brokered private placement for gross proceeds of CAD32.5 million by issuing 9,443,500 units (the Units) of the Company at a price of CAD3.44 per Unit (the Offering). The price of the Units were the five-day volume weighted average market price based on the date of signing of the principal subscription agreement with Highland Park. Each Unit consisted of one Common Share of the Company as well as one Warrant to purchase a Common Share in the Company for a period of two years at a price of $4.00 per share. Should the Company's share price trade at a price of greater than $6.00 per share for a period of twenty consecutive trading days, the Company will have a right to accelerate the exercise period of the Warrants to 30 days. The exercise of all of the Warrants within the Offering would raise an additional $37.8 million.  Full Article

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