Ashanti Gold Corp. (TSXV:AGZ) announced a non-brokered private placement of up to 10,000,000 units at CAD 0.05 per unit for gross proceeds of up to CAD 500,000 on January 15, 2019. Each unit consists of one common share and one-half of common share purchase warrant, with each whole warrant entitling the holder to purchase an additional common share at CAD 0.08 per share for a period of two years from closing. The company may pay finder's fee in the transaction. The securities issued are subject to a hold period of four months, during which time the securities may not be traded. The transaction is subject to TSX Venture Exchange approval.