Ashanti Gold Corp. (TSXV:AGZ) announced a non-brokered private placement of up to 3,000,000 units at a price of CAD 0.10 per unit for gross proceeds of up to CAD 300,000. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional share of the company for a period of two years from the date of issuance at a price of CAD 0.13 per share. In the event that the company's shares trade at a closing price of greater than CAD 0.60 per share for a period of ten consecutive days at any time after the closing of the offering, the company may accelerate the expiry date of the warrants by providing notice to the shareholders thereof and in such case the warrant will expire on the 30th day after the date on which such notice is given by the company. Finders's fees may be payable to arm's length parties that have introduced the company to certain subscribes participation in the offering. All securities issued in the offering are subject to a four month hold period. The transaction is subject to approval of the TSX Venture Exchange.