Source: Ascendant Resources Inc.
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  • Ascendant Resources (ASND) has announced a non-brokered private placement for aggregate gross proceeds of up to $3.5 million
  • The company will issue up to 17.5 million common shares at a price of $0.20 per share
  • The company expects to close the offering on or about May 19th
  • Net proceeds will be used to make the next earn in option payment on the Lagoa Salgada project
  • Ascendant is a Toronto-based mining company
  • Ascendant Resources Inc. (ASND) opened trading at C$0.21 per share

Ascendant Resources (ASND) has announced a non-brokered private placement for aggregate gross proceeds of up to $3.5 million.

The company will issue up to 17.5 million common shares at a price of $0.20 per share.

The company expects to close the offering on or about May 19th, 2022, and may elect to close the offering in one or more tranches.

The offering is subject to the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

Net proceeds will be used to make the next earn-in option payment to satisfy the requirements to increase its ownership of the Lagoa Salgada project to 50 per cent, as well as for working capital and general corporate purposes.

Ascendant is a Toronto-based mining company focused on exploring and developing the highly prospective Lagoa Salgada VMS project located in Portugal.

Ascendant Resources Inc. (ASND) opened trading at C$0.21 per share.

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