Asante Gold Financing
Asante Gold Corp., Corporation just had published form D announcing $46,220 equity financing. This is a new filing. Asante Gold was able to finance itself with $27,277 so far. That is 59.02% of the fundraising. The total offering amount was $46,220. The form was filed on 2016-11-01. The reason for the financing was: Total Offering Amount represents units (200,000 x C$0.18) plus underlying warrants (100,000 x C$0.25), converted into USD at C$1.00=US$0.7577. There is no guarantee that the warrants, expiring Oct. 28, 2018, will be exercised.. The fundraising still has about $18,943 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Asante Gold is based in British Columbia – Canada. The company’s business is not disclosed. The form was submitted by Douglas MacQuarrie President & CEO. The company was incorporated in 2011. The filler’s address is: 595 Howe Street, Suite 206, Vancouver, A1, British Columbia, Canada, V6c 2T5. Douglas Macquarrie is the related person in the form and it has address: 595 Howe Street, Suite 206, Vancouver, A1, British Columbia, Canada, V6c 2T5. Link to Asante Gold Filing: 000118374016000450.
Analysis of Asante Gold Offering
On average, firms in the not disclosed sector, sell 67.77% of the total offering size. Asante Gold sold 59.02% of the offering. The financing is still open. The average fundraising size for companies in all industries in our database is $3.05 million. The offering was 99.11% smaller than the average of $3.05 million. Of course this should not be interpreted as negative. Companies raise funds for a variety of needs and reasons. The minimum investment for this financing is set at $0. If you know more about the reasons for the fundraising, please comment below.
What is Form D? What It Is Used For
Form D disclosures could be used to track and understand better your competitors. The information in Form D is usually highly confidential for ventures and startups and they don’t like revealing it. This is because it reveals amount raised or planned to be raised as well as reasons for the financing. This could help competitors. Entrepreneurs usually want to keep their financing a ‘secret’ so they can stay in stealth mode for longer.
Why Fundraising Reporting Is Good For Asante Gold Also
The Form D signed by Douglas MacQuarrie might help Asante Gold Corp.’s sector. First, it helps potential customers feel more safe to deal with a firm that is well financed. The odds are higher that it will stay in the business. Second, this could attract other investors such as venture-capital firms, funds and angels. Third, positive PR effects could even bring leasing firms and venture lenders.
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