Asante Gold Corp (CVE:ASE) told investors it had raised $435,000 via a non-brokered placing at 10 cents a unit.
As revealed on May 15, the firm planned to raise $500,000 gross for an exploration campaign and working capital.
It has now issued 4.35mln units at 10 cents each for a total of $435,000.
Each unit consists of one share and one transferable share purchase warrant - each will entitle the holder to purchase a further share at an exercise price of 15 cents until May 31 next year.
Today, Asante said the proceeds would be used for general working capital, including drilling and other work programs on the firm's Keyhole, Betenase, Fahiakoba and Kubi projects in Ghana.
All securities purchased under this offering are subject to a four month hold period expiring October 1, 2017.
Shares were unchanged at ten cents each.