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5 days ago
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Asante Announces Commitments of $470 Million Anchored by Appian and RMB; TSX-V Conditional Acceptance for Listing
(All amounts expressed in U.S. dollars unless otherwise noted) VANCOUVER, British Columbia, June 17, 2025 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE: ASE | GSE: ASG | FRANKFURT:1A9 | ASGOF) ('Asante' or the 'Company') is pleased to announce that it has received $470 million in credit and equity commitments, forming the foundation of a comprehensive financing solution that, when completed, would fully fund the Company's growth plans and recapitalize its short-term liabilities. This includes a $175 million financing package from private funds advised by Appian Capital Advisory LLP ('Appian') and a $170 million credit and underwrite commitment from FirstRand Bank Limited (acting through its Rand Merchant Bank division) ('RMB'). The Company is also pleased to announce that it has received conditional acceptance for the listing of the Common Shares on the TSX Venture Exchange (the 'TSX-V'). The above commitments underpin a non-dilutive financing package comprised of a senior debt facility in the amount of $150 million (the 'Senior Debt Facility'), subordinated debt in the amount of up to $125 million (the 'Subordinated Debt Facility'), and a gold stream financing in the amount of $50 million (the 'Gold Stream') (collectively the 'Financing Package'). Completion of the Financing Package is subject to the negotiation of definitive documentation, satisfaction of customary conditions precedent and the completion of a transaction with Kinross Gold Corporation ('Kinross') to settle outstanding liabilities. In addition, completion of the Financing Package is conditional on raising approximately $130 million of equity, for which commitments of $85 million (including $10 million from Appian) have been received and discussions with other parties are advanced. The completion of the Financing Package and related transactions is expected to occur by the end of July 2025. Dave Anthony, President and CEO stated: 'This comprehensive Financing Package will allow Asante to realize the true potential of our assets. This will clear the path to achieve our goal of gold production of more than 500,000 ounces per year by 2028 at significantly lower all-in sustaining costs, with over $2 billion of free cash flow generation expected through 2029 as described in our recent five-year outlook (see news release dated May 5, 2025). Our extensive land package at Bibiani and Chirano encompasses 80 kilometres of strike length on some of Ghana's most prospective ground, with significant exploration upside remaining.' David Wiens, CFO stated: 'We are pleased to partner with Appian and RMB, leading mining-focused financial institutions with a rigorous technical approach, in structuring a comprehensive financing solution for Asante. I would like to thank our technical services, operations, finance and legal teams, as well as our financial advisor Endeavour Financial, for their tireless efforts and support to advance this process. We are on course to being fully funded and well capitalized by the end of July. In addition, a listing on the TSX-V is expected to provide added liquidity and increased exposure to a wider pool of investors.' HIGHLIGHTS $470 million of credit and equity commitments provides anchor for fully funded solution for growth plans and recapitalization needs Appian: $175 million financing package $40 million allocation to Senior Debt Facility syndication structured by RMB $75 million Subordinated Debt Facility $50 million Gold Stream with 100% buyback rights $10 million equity subscription RMB: $170 million credit commitment $110 million of allocation and underwriting commitments to Senior Debt Facility $50 million hedging lines to execute downside gold price protection program $10 million environmental guarantee TSX-V conditional acceptance for listing of common shares received Targeted listing in August 2025, subject to satisfaction of conditions Balance sheet transformation: Elimination of overdue trade payables and existing short-term debt facilities Elimination of short-term Kinross liabilities with comprehensive restructuring agreement Operational use of proceeds, as described in the Company's five-year outlook: Bibiani: pit expansion, sulphide treatment plant completion, community resettlement, underground mine development Chirano: mobile equipment, underground development and expansion, plant upgrades Anticipated closing of all transactions by July 31, 2025 FINANCING PACKAGE Senior Debt Facility: $150 million The Senior Debt Facility will be comprised of a term loan (the 'Term Loan') of approximately $120 million and a revolving credit facility (the 'RCF') of approximately $30 million. The Term Loan will have a five-year term, with an 18-month grace period and principal amortization over the following 42 months, initially bearing interest at a rate of SOFR + 6.50%, subject to reduction upon the achievement of certain operational milestones. The RCF will have a three-year term and will bear interest at a rate of SOFR + 4.50%. RMB and Appian have provided core credit commitments of $60 million and $40 million respectively, with a further underwriting commitment in the amount of $50 million from RMB. The Senior Debt Facility contains an accordion feature for a further $30 million increase at a later date. In connection with the Senior Debt Facility, RMB will provide credit lines of approximately $50 million to support a downside price protection program through 2027, as well as an environmental guarantee in the amount of $10 million. Subordinated Debt Facility: Up to $125 million The Subordinated Debt Facility will be in an amount of up to $125 million, underpinned by $75 million from Appian and a commitment of $50 million from another financial institution, with a maturity of seven years and an interest rate of SOFR plus 9.75%. During the first 24 months of the term of the Subordinated Debt Facility, Asante will have the option to satisfy interest payments in cash or payment-in-kind (PIK), providing the Company with additional flexibility to manage its cash position. The Subordinated Debt Facility will be repaid in twenty equal quarterly instalments, subject to compliance with certain distribution tests as defined under the Senior Debt Facility. Gold Stream: $50 million Appian will provide the Gold Stream of $50 million pursuant to which the Company will sell 1.50% of payable gold sold from the Bibiani Mine and Chirano Mine at 20% of the prevailing market price for 24 months. Thereafter, the Gold Stream will increase to 2.25% until certain delivery thresholds are met, at which point the Gold Stream will be reduced to 0.30%. The Gold Stream contains a provision for Asante to buy back the Gold Stream, subject to certain timing and return thresholds being met. Kinross Agreement Concurrent with the closing of the Financing Package and consistent with the Company's news release dated October 30, 2024, deferred consideration owed to Kinross will be settled through (i) a cash payment of approximately $53 million (less any other payments made to Kinross prior to closing of the Financing Package), (ii) an increase in the equity ownership of Kinross in the Company to 9.9% based on the last equity issue price prior to closing of the transaction (the 'Issuance Price'), (iii) the conversion of a portion of the remaining amounts into a convertible debenture (the 'Convertible Debenture') in a maximum amount such that Kinross will not exceed an 18.0% ownership position in the Company on a partially diluted basis, with a maturity on the later of six months after the maturity of the Senior Debt Facility and the date of maturity of the Subordinated Debt Facility, an interest rate of 3.0% per annum paid in kind ('PIK Interest'), and an equity conversion price that is 25% above the Issuance Price; and (iv) the conversion of any remaining amounts into a non-convertible debt instrument (the 'Deferred Note' and together with the Convertible Debenture, the 'Kinross Obligations') with an interest rate of a 5.0% margin above a base rate (paid in kind) and the same maturity date as the Convertible Debenture (collectively, the "Kinross Obligations"). Upon closing of the Financing Package, Kinross will relinquish its existing security interest in the downstream entities that own the Chirano Mine in favor of a security package that is the same as, but subordinate to, that held by Company's senior lenders, as described below. Security Package The Company's obligations under the Senior Debt Facility, the Subordinated Debt Facility, the Gold Stream and the Kinross Obligations will be guaranteed by Asante and secured by certain assets of the Company, including the Chirano Mine and Bibiani Mine (collectively, the 'Security Package'). The secured obligations will rank in the following order of priority: the Senior Debt Facility, the Subordinated Debt Facility, the Gold Stream, and the Kinross Obligations. Completion of the Financing Package, Kinross agreement and Security Package are conditional upon the satisfaction of certain conditions precedent, including, without limitation, the receipt of all regulatory and stock exchange approvals, and the negotiation, execution and delivery of definitive transaction documentation, including all loan documentation, the stream agreement, the Convertible Debenture, the Deferred Note, and all related intercreditor agreements and security documentation. Accordingly, there can be no assurance that the Company will be able to satisfy the foregoing conditions and complete the Financing Package. TSX-V CONDITIONAL ACCEPTANCE FOR LISTING The Company has received conditional acceptance for the listing of the common shares of the Company on the TSX-V. Completion of the listing is subject to the satisfaction of certain conditions, including, among others, the completion of the transactions contemplated in this news release. Completion of the listing is anticipated to occur in August 2025. Qualified Person Statement The scientific and technical information contained in this news release has been reviewed and approved by David Anthony, Mining and Mineral Processing, President and CEO of Asante, who is a 'qualified person' under NI 43-101. About Asante Gold Corporation Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines and continues with detailed technical studies at its Kubi Gold Project. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the Canadian Securities Exchange and the Ghana Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana's Golden Triangle. Additional information is available on the Company's website at For further information please contact: Dave Anthony, President & CEOFrederick Attakumah, Executive Vice President and Country Directorinfo@ 604 661 9400 or +233 303 972 147 About Appian Capital Advisory LLP Appian Capital Advisory LLP is the investment advisor to long-term value-focused private capital funds that invest in companies in metals, mining, and adjacent industries. Appian is a leading investment advisor with global experience across South America, North America, Australia and Africa and a successful track record of supporting companies in metals, mining, and adjacent industries to achieve their development targets, with a global operating portfolio overseeing approximately 5,000 employees. Appian has a global team of 88 investment professionals, combining financial and technical expertise, with presences in London, New York, Dubai, Belo Horizonte, São Paulo, Beijing, Hong Kong, Toronto, Lima and Perth. For more information, please visit About FirstRand Bank Limited (acting through its Rand Merchant Bank division) ('RMB') RMB is a leading African Corporate and Investment Bank ('CIB'). We partner our clients to deliver advisory, lending, trading, securities, corporate banking, private equity and investment solutions. A presence in London, New York, Shanghai and Mumbai provides our global clients with a network to access African markets. We have a deal footprint in 35 African countries and facilitate cross-border trade and investment on the continent. RMB represents the CIB activities of FirstRand Limited – one of the largest financial services groups in Africa. For more information visit Cautionary Statement on Forward-Looking Statements Certain statements in this news release constitute forward-looking statements, including but not limited to, statements relating to the structure and terms of the Financing Package, the Security Package and their individual components, the timing and ability of the Company to close each transaction comprising the Financing Package (if at all) and on the terms announced, the timing and ability of the Company to receive necessary regulatory approvals in respect of the Financing Package, the Company's ability to negotiate and enter into all definitive transaction documents necessary to complete the Financing Package, Kinross transaction and Security Package, the intended use of proceeds of the Financing Package, the financing initiatives being advanced by the Company, the timing and ability of Kinross and Asante entering into a further amendment to their share purchase agreement, the timing and ability of the Company to complete a listing of the common shares of the Company on the TSX-V, the potential for a meaningful re-rating, the Company's ability to satisfy certain operational milestones and delivery thresholds under the Senior Debt Facility and Gold Stream, respectively, the Company's ability to realize the true potential of its assets; the Company's ability to achieve the projections of gold production and all-in sustaining costs, the significant exploration upside of the Company's properties, and progression of key capital projects at the Company's operating mines. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the Company's inability to complete any or all of the transactions comprising the Financing Package on terms described in this news release or on other terms acceptable to the Company, the Company's inability to receive necessary regulatory approvals in respect of the Financing Package, the Company's inability to enter into a further amendment to the share purchase agreement with Kinross, the Company's inability to complete a listing of the common shares of the Company on the TSX-V, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, the Company's inability to raise the necessary capital or to be fully able to implement its business strategies, and the price of gold. The reader is referred to the Company's public disclosure record which is available on SEDAR+ ( Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the securities exchanges on which the Company is listed, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. LEI Number: 529900F9PV1G9S5YD446. 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Yahoo
5 days ago
- Business
- Yahoo
Asante Announces Commitments of $470 Million Anchored by Appian and RMB; TSX-V Conditional Acceptance for Listing
(All amounts expressed in U.S. dollars unless otherwise noted) VANCOUVER, British Columbia, June 17, 2025 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE: ASE | GSE: ASG | FRANKFURT:1A9 | ASGOF) ('Asante' or the 'Company') is pleased to announce that it has received $470 million in credit and equity commitments, forming the foundation of a comprehensive financing solution that, when completed, would fully fund the Company's growth plans and recapitalize its short-term liabilities. This includes a $175 million financing package from private funds advised by Appian Capital Advisory LLP ('Appian') and a $170 million credit and underwrite commitment from FirstRand Bank Limited (acting through its Rand Merchant Bank division) ('RMB'). The Company is also pleased to announce that it has received conditional acceptance for the listing of the Common Shares on the TSX Venture Exchange (the 'TSX-V'). The above commitments underpin a non-dilutive financing package comprised of a senior debt facility in the amount of $150 million (the 'Senior Debt Facility'), subordinated debt in the amount of up to $125 million (the 'Subordinated Debt Facility'), and a gold stream financing in the amount of $50 million (the 'Gold Stream') (collectively the 'Financing Package'). Completion of the Financing Package is subject to the negotiation of definitive documentation, satisfaction of customary conditions precedent and the completion of a transaction with Kinross Gold Corporation ('Kinross') to settle outstanding liabilities. In addition, completion of the Financing Package is conditional on raising approximately $130 million of equity, for which commitments of $85 million (including $10 million from Appian) have been received and discussions with other parties are advanced. The completion of the Financing Package and related transactions is expected to occur by the end of July 2025. Dave Anthony, President and CEO stated: 'This comprehensive Financing Package will allow Asante to realize the true potential of our assets. This will clear the path to achieve our goal of gold production of more than 500,000 ounces per year by 2028 at significantly lower all-in sustaining costs, with over $2 billion of free cash flow generation expected through 2029 as described in our recent five-year outlook (see news release dated May 5, 2025). Our extensive land package at Bibiani and Chirano encompasses 80 kilometres of strike length on some of Ghana's most prospective ground, with significant exploration upside remaining.' David Wiens, CFO stated: 'We are pleased to partner with Appian and RMB, leading mining-focused financial institutions with a rigorous technical approach, in structuring a comprehensive financing solution for Asante. I would like to thank our technical services, operations, finance and legal teams, as well as our financial advisor Endeavour Financial, for their tireless efforts and support to advance this process. We are on course to being fully funded and well capitalized by the end of July. In addition, a listing on the TSX-V is expected to provide added liquidity and increased exposure to a wider pool of investors.' HIGHLIGHTS $470 million of credit and equity commitments provides anchor for fully funded solution for growth plans and recapitalization needs Appian: $175 million financing package $40 million allocation to Senior Debt Facility syndication structured by RMB $75 million Subordinated Debt Facility $50 million Gold Stream with 100% buyback rights $10 million equity subscription RMB: $170 million credit commitment $110 million of allocation and underwriting commitments to Senior Debt Facility $50 million hedging lines to execute downside gold price protection program $10 million environmental guarantee TSX-V conditional acceptance for listing of common shares received Targeted listing in August 2025, subject to satisfaction of conditions Balance sheet transformation: Elimination of overdue trade payables and existing short-term debt facilities Elimination of short-term Kinross liabilities with comprehensive restructuring agreement Operational use of proceeds, as described in the Company's five-year outlook: Bibiani: pit expansion, sulphide treatment plant completion, community resettlement, underground mine development Chirano: mobile equipment, underground development and expansion, plant upgrades Anticipated closing of all transactions by July 31, 2025 FINANCING PACKAGE Senior Debt Facility: $150 million The Senior Debt Facility will be comprised of a term loan (the 'Term Loan') of approximately $120 million and a revolving credit facility (the 'RCF') of approximately $30 million. The Term Loan will have a five-year term, with an 18-month grace period and principal amortization over the following 42 months, initially bearing interest at a rate of SOFR + 6.50%, subject to reduction upon the achievement of certain operational milestones. The RCF will have a three-year term and will bear interest at a rate of SOFR + 4.50%. RMB and Appian have provided core credit commitments of $60 million and $40 million respectively, with a further underwriting commitment in the amount of $50 million from RMB. The Senior Debt Facility contains an accordion feature for a further $30 million increase at a later date. In connection with the Senior Debt Facility, RMB will provide credit lines of approximately $50 million to support a downside price protection program through 2027, as well as an environmental guarantee in the amount of $10 million. Subordinated Debt Facility: Up to $125 million The Subordinated Debt Facility will be in an amount of up to $125 million, underpinned by $75 million from Appian and a commitment of $50 million from another financial institution, with a maturity of seven years and an interest rate of SOFR plus 9.75%. During the first 24 months of the term of the Subordinated Debt Facility, Asante will have the option to satisfy interest payments in cash or payment-in-kind (PIK), providing the Company with additional flexibility to manage its cash position. The Subordinated Debt Facility will be repaid in twenty equal quarterly instalments, subject to compliance with certain distribution tests as defined under the Senior Debt Facility. Gold Stream: $50 million Appian will provide the Gold Stream of $50 million pursuant to which the Company will sell 1.50% of payable gold sold from the Bibiani Mine and Chirano Mine at 20% of the prevailing market price for 24 months. Thereafter, the Gold Stream will increase to 2.25% until certain delivery thresholds are met, at which point the Gold Stream will be reduced to 0.30%. The Gold Stream contains a provision for Asante to buy back the Gold Stream, subject to certain timing and return thresholds being met. Kinross Agreement Concurrent with the closing of the Financing Package and consistent with the Company's news release dated October 30, 2024, deferred consideration owed to Kinross will be settled through (i) a cash payment of approximately $53 million (less any other payments made to Kinross prior to closing of the Financing Package), (ii) an increase in the equity ownership of Kinross in the Company to 9.9% based on the last equity issue price prior to closing of the transaction (the 'Issuance Price'), (iii) the conversion of a portion of the remaining amounts into a convertible debenture (the 'Convertible Debenture') in a maximum amount such that Kinross will not exceed an 18.0% ownership position in the Company on a partially diluted basis, with a maturity on the later of six months after the maturity of the Senior Debt Facility and the date of maturity of the Subordinated Debt Facility, an interest rate of 3.0% per annum paid in kind ('PIK Interest'), and an equity conversion price that is 25% above the Issuance Price; and (iv) the conversion of any remaining amounts into a non-convertible debt instrument (the 'Deferred Note' and together with the Convertible Debenture, the 'Kinross Obligations') with an interest rate of a 5.0% margin above a base rate (paid in kind) and the same maturity date as the Convertible Debenture (collectively, the "Kinross Obligations"). Upon closing of the Financing Package, Kinross will relinquish its existing security interest in the downstream entities that own the Chirano Mine in favor of a security package that is the same as, but subordinate to, that held by Company's senior lenders, as described below. Security Package The Company's obligations under the Senior Debt Facility, the Subordinated Debt Facility, the Gold Stream and the Kinross Obligations will be guaranteed by Asante and secured by certain assets of the Company, including the Chirano Mine and Bibiani Mine (collectively, the 'Security Package'). The secured obligations will rank in the following order of priority: the Senior Debt Facility, the Subordinated Debt Facility, the Gold Stream, and the Kinross Obligations. Completion of the Financing Package, Kinross agreement and Security Package are conditional upon the satisfaction of certain conditions precedent, including, without limitation, the receipt of all regulatory and stock exchange approvals, and the negotiation, execution and delivery of definitive transaction documentation, including all loan documentation, the stream agreement, the Convertible Debenture, the Deferred Note, and all related intercreditor agreements and security documentation. Accordingly, there can be no assurance that the Company will be able to satisfy the foregoing conditions and complete the Financing Package. TSX-V CONDITIONAL ACCEPTANCE FOR LISTING The Company has received conditional acceptance for the listing of the common shares of the Company on the TSX-V. Completion of the listing is subject to the satisfaction of certain conditions, including, among others, the completion of the transactions contemplated in this news release. Completion of the listing is anticipated to occur in August 2025. Qualified Person Statement The scientific and technical information contained in this news release has been reviewed and approved by David Anthony, Mining and Mineral Processing, President and CEO of Asante, who is a 'qualified person' under NI 43-101. About Asante Gold Corporation Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines and continues with detailed technical studies at its Kubi Gold Project. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the Canadian Securities Exchange and the Ghana Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana's Golden Triangle. Additional information is available on the Company's website at For further information please contact: Dave Anthony, President & CEOFrederick Attakumah, Executive Vice President and Country Directorinfo@ 604 661 9400 or +233 303 972 147 About Appian Capital Advisory LLP Appian Capital Advisory LLP is the investment advisor to long-term value-focused private capital funds that invest in companies in metals, mining, and adjacent industries. Appian is a leading investment advisor with global experience across South America, North America, Australia and Africa and a successful track record of supporting companies in metals, mining, and adjacent industries to achieve their development targets, with a global operating portfolio overseeing approximately 5,000 employees. Appian has a global team of 88 investment professionals, combining financial and technical expertise, with presences in London, New York, Dubai, Belo Horizonte, São Paulo, Beijing, Hong Kong, Toronto, Lima and Perth. For more information, please visit About FirstRand Bank Limited (acting through its Rand Merchant Bank division) ('RMB') RMB is a leading African Corporate and Investment Bank ('CIB'). We partner our clients to deliver advisory, lending, trading, securities, corporate banking, private equity and investment solutions. A presence in London, New York, Shanghai and Mumbai provides our global clients with a network to access African markets. We have a deal footprint in 35 African countries and facilitate cross-border trade and investment on the continent. RMB represents the CIB activities of FirstRand Limited – one of the largest financial services groups in Africa. For more information visit Cautionary Statement on Forward-Looking Statements Certain statements in this news release constitute forward-looking statements, including but not limited to, statements relating to the structure and terms of the Financing Package, the Security Package and their individual components, the timing and ability of the Company to close each transaction comprising the Financing Package (if at all) and on the terms announced, the timing and ability of the Company to receive necessary regulatory approvals in respect of the Financing Package, the Company's ability to negotiate and enter into all definitive transaction documents necessary to complete the Financing Package, Kinross transaction and Security Package, the intended use of proceeds of the Financing Package, the financing initiatives being advanced by the Company, the timing and ability of Kinross and Asante entering into a further amendment to their share purchase agreement, the timing and ability of the Company to complete a listing of the common shares of the Company on the TSX-V, the potential for a meaningful re-rating, the Company's ability to satisfy certain operational milestones and delivery thresholds under the Senior Debt Facility and Gold Stream, respectively, the Company's ability to realize the true potential of its assets; the Company's ability to achieve the projections of gold production and all-in sustaining costs, the significant exploration upside of the Company's properties, and progression of key capital projects at the Company's operating mines. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the Company's inability to complete any or all of the transactions comprising the Financing Package on terms described in this news release or on other terms acceptable to the Company, the Company's inability to receive necessary regulatory approvals in respect of the Financing Package, the Company's inability to enter into a further amendment to the share purchase agreement with Kinross, the Company's inability to complete a listing of the common shares of the Company on the TSX-V, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, the Company's inability to raise the necessary capital or to be fully able to implement its business strategies, and the price of gold. The reader is referred to the Company's public disclosure record which is available on SEDAR+ ( Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the securities exchanges on which the Company is listed, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. LEI Number: 529900F9PV1G9S5YD446. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this in to access your portfolio
Yahoo
03-06-2025
- Business
- Yahoo
Appian Connected Claims 2.0 Transforms Insurance Claims Management with AI
Appian is named a 'Leader' in Everest Group's 'AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix®' for 2025 LONDON, June 4, 2025 /PRNewswire/ -- Appian (NASDAQ: APPN) today announced the launch of Connected Claims 2.0, an AI-powered solution designed to provide a unified claims workflow. Everest Group also named Appian a Leader in AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix® Assessment 2025. Connected Claims 2.0 leverages Appian's Case Management Studio, AI agents, and data fabric to offer streamlined, data-driven, and AI-powered automated processes. Driven by rapid digital transformation, the global insurance claims services processing market is projected to reach $638.3 billion by 2032. Connected Claims 2.0 will support insurers through this growth with a unified claims workflow that accelerates processing, enhances fraud detection, combats inconsistent handling, data management issues and improves customer satisfaction. Connected Claims 2.0 offers a fully integrated, AI-powered platform with customisable workflows and a superior user experience, featuring a single pane of glass, AI-powered data insights, real-time data access, and automated regulatory compliance management. Appian's Connected Claims solution brings powerful AI-driven support to every adjuster, making it easier to manage the demands of a document-heavy claims environment. With capabilities like data classification, document summarisation, contextual chat, and next-best-action recommendations, AI accelerates work and improves decision-making. The next generation of the solution introduces the Appian AI Document Centre, enabling users to easily train models to extract data from unstructured documents. This means faster intake, more accurate data capture, and seamless handoff for tasks like fraud detection and automated triage. Over time, users can achieve high accuracy and boost straight-through processing (STP) rates—freeing human experts to focus only on the most complex cases. The result is faster, smarter claims handling with less manual work. Trusted by companies like Aon, Canada Life, and Aviva, Appian has also been named a Leader in Everest Group's AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix® Assessment 2025. The assessment considered several factors, including each provider's vision and strategy, technology capabilities, deployment flexibility, customer engagement models, support services, and overall value delivered. Appian's recognition as a Leader highlights its strength in embedding AI directly into processes. This approach enables insurers to easily access powerful AI capabilities exactly when and where they're needed—with just a few clicks. "Appian's Connected Claims solution, built on its low-code platform, combines AI-driven document processing, seamless third-party integrations, and configurable accelerators to deliver rapid time-to-value for P&C insurers," said Aurindum Mukherjee, Practice Director at Everest Group. "Strong integration support across payment, risk, and fraud systems, coupled with proven success driving accelerated business value for insurers and high client satisfaction for implementation and support, underpins Appian's position as a Leader in Everest Group's AI-enabled Claims Management Systems PEAK Matrix® Assessment 2025." "We are launching Appian Connected Claims 2.0 to meet the urgent need for speed and early value realisation as the insurance industry tackles complexity, " said Jake Sloan, Global Vice President of Insurance, Appian. "Our solution drives digital-first claims innovation, aligning with core admin cloud modernisation for early value realisation. It's configurable, rapidly deployable, and leverages the latest powerful AI in Process to accelerate cycles, combat fraud, and personalise customer experiences. Connected Claims 2.0 empowers insurers to transform operations, balancing efficiency and accuracy with superior customer satisfaction, truly leading the evolution of claims management." Connected Claims 2.0 supports insurance companies, from claims adjusters, fraud detection teams, customer service representatives, regulatory compliance teams, to IT and operations teams. About Appian Appian is The Process Company. We deliver a software platform that helps organisations run better processes that reduce costs, improve customer experiences, and gain a strategic edge. Committed to client success, we serve many of the world's largest companies across various industries. For more information, visit [Nasdaq: APPN] Follow Appian: LinkedIn, X (Twitter) DisclaimerLicensed extracts taken from Everest Group's PEAK Matrix® Reports, may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group's PEAK Matrix® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group's analysts and included in Everest Group's PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports. About Everest GroupEverest Group is a leading global research firm helping business leaders make confident Group's PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products and solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix® to gauge and calibrate their offerings against others in the industry or market. Find further details and in-depth content at View original content: SOURCE Appian Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
03-06-2025
- Business
- Associated Press
Appian Connected Claims 2.0 Transforms Insurance Claims Management with AI
Appian is named a 'Leader' in Everest Group's 'AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix®' for 2025 MCLEAN, Va., June 3, 2025 /PRNewswire/ -- Appian (NASDAQ: APPN) today announced the launch of Connected Claims 2.0, an AI-powered solution designed to provide a unified claims workflow. Everest Group also named Appian a Leader in AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix® Assessment 2025. Connected Claims 2.0 leverages Appian's Case Management Studio, AI agents, and data fabric to offer streamlined, data-driven, and AI-powered automated processes. Driven by rapid digital transformation, the global insurance claims services processing market is projected to reach $638.3 billion by 2032. Connected Claims 2.0 will support insurers through this growth with a unified claims workflow that accelerates processing, enhances fraud detection, combats inconsistent handling, data management issues and improves customer satisfaction. Connected Claims 2.0 offers a fully integrated, AI-powered platform with customizable workflows and a superior user experience, featuring a single pane of glass, AI-powered data insights, real-time data access, and automated regulatory compliance management. Appian's Connected Claims solution brings powerful AI-driven support to every adjuster, making it easier to manage the demands of a document-heavy claims environment. With capabilities like data classification, document summarization, contextual chat, and next-best-action recommendations, AI accelerates work and improves decision-making. The next generation of the solution introduces the Appian AI Document Center, enabling users to easily train models to extract data from unstructured documents. This means faster intake, more accurate data capture, and seamless handoff for tasks like fraud detection and automated triage. Over time, users can achieve high accuracy and boost straight-through processing (STP) rates—freeing human experts to focus only on the most complex cases. The result is faster, smarter claims handling with less manual work. T rusted by companies like Aon, Canada Life, and Aviva, Appian has also been named a Leader in Everest Group's AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix® Assessment 2025. The assessment considered several factors, including each provider's vision and strategy, technology capabilities, deployment flexibility, customer engagement models, support services, and overall value delivered. Appian's recognition as a Leader highlights its strength in embedding AI directly into processes. This approach enables insurers to easily access powerful AI capabilities exactly when and where they're needed—with just a few clicks. 'Appian's Connected Claims solution, built on its low-code platform, combines AI-driven document processing, seamless third-party integrations, and configurable accelerators to deliver rapid time-to-value for P&C insurers,' said Aurindum Mukherjee, Practice Director at Everest Group. 'Strong integration support across payment, risk, and fraud systems, coupled with proven success driving accelerated business value for insurers and high client satisfaction for implementation and support, underpins Appian's position as a Leader in Everest Group's AI-enabled Claims Management Systems PEAK Matrix® Assessment 2025.' 'We are launching Appian Connected Claims 2.0 to meet the urgent need for speed and early value realization as the insurance industry tackles complexity, " said Jake Sloan, Global Vice President of Insurance, Appian. 'Our solution drives digital-first claims innovation, aligning with core admin cloud modernization for early value realization. It's configurable, rapidly deployable, and leverages the latest powerful AI in Process to accelerate cycles, combat fraud, and personalize customer experiences. Connected Claims 2.0 empowers insurers to transform operations, balancing efficiency and accuracy with superior customer satisfaction, truly leading the evolution of claims management.' Connected Claims 2.0 supports insurance companies, from claims adjusters, fraud detection teams, customer service representatives, regulatory compliance teams, to IT and operations teams. About Appian Appian is The Process Company. We deliver a software platform that helps organizations run better processes that reduce costs, improve customer experiences, and gain a strategic edge. Committed to client success, we serve many of the world's largest companies across various industries. For more information, visit [Nasdaq: APPN] Follow Appian: LinkedIn, X (Twitter) Disclaimer Licensed extracts taken from Everest Group's PEAK Matrix® Reports, may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group's PEAK Matrix® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group's analysts and included in Everest Group's PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports. About Everest Group Everest Group is a leading global research firm helping business leaders make confident decisions. Everest Group's PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products and solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix® to gauge and calibrate their offerings against others in the industry or market. Find further details and in-depth content at View original content to download multimedia: SOURCE Appian
Yahoo
26-05-2025
- Business
- Yahoo
After the recent decline, Appian Corporation (NASDAQ:APPN) CEO Matthew Calkins' holdings have lost 4.7% of their value
Insiders appear to have a vested interest in Appian's growth, as seen by their sizeable ownership A total of 2 investors have a majority stake in the company with 51% ownership 34% of Appian is held by Institutions We've discovered 2 warning signs about Appian. View them for free. To get a sense of who is truly in control of Appian Corporation (NASDAQ:APPN), it is important to understand the ownership structure of the business. And the group that holds the biggest piece of the pie are individual insiders with 43% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). As market cap fell to US$2.3b last week, insiders would have faced the highest losses than any other shareholder groups of the company. Let's take a closer look to see what the different types of shareholders can tell us about Appian. View our latest analysis for Appian Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. Appian already has institutions on the share registry. Indeed, they own a respectable stake in the company. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Appian, (below). Of course, keep in mind that there are other factors to consider, too. It would appear that 12% of Appian shares are controlled by hedge funds. That's interesting, because hedge funds can be quite active and activist. Many look for medium term catalysts that will drive the share price higher. The company's CEO Matthew Calkins is the largest shareholder with 39% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 12% and 6.7%, of the shares outstanding, respectively. To make our study more interesting, we found that the top 2 shareholders have a majority ownership in the company, meaning that they are powerful enough to influence the decisions of the company. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. Our information suggests that insiders maintain a significant holding in Appian Corporation. Insiders own US$979m worth of shares in the US$2.3b company. That's quite meaningful. It is good to see this level of investment. You can check here to see if those insiders have been buying recently. The general public, who are usually individual investors, hold a 11% stake in Appian. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. While it is well worth considering the different groups that own a company, there are other factors that are even more important. To that end, you should be aware of the 2 warning signs we've spotted with Appian . Ultimately the future is most important. You can access this free report on analyst forecasts for the company. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
