AshantiGold told striker Bashiru Osman and three others their services will not be needed for the upcoming season.
Goalkeeper Nana Bonsu, Ransford Kwakye and Kennedy Appiah complete the quartet released by the club.
Centre-back Kwakye joined from King Faisal two seasons ago when the club got relegated but never debuted for the club.
AshantiGold have made a lot of signings ahead of their league title defence and 2016 CAF Champions League campaign.
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