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  • Ascot Resources (AOT) has closed its bought deal financing, including the full exercise of the over-allotment option, for gross proceeds of C$64,241,470
  • The offering consisted of 28,610,000 common shares, 12,831,000 hard dollar units and 14,590,000 flow-through units
  • The offering was co-led by Desjardins Capital Markets and BMO Capital Markets and included Stifel GMP, Raymond James, CIBC World Markets, Sprott Capital Partners, and Agentis Capital
  • The proceeds will be used to fund construction of the Premier Gold Project, Ascot’s 2022 exploration drilling program, and for general working capital
  • Ascot is a Canadian-based exploration and development company
  • Ascot Resources (AOT) opened trading at $1.15 per share

Ascot Resources (AOT) has closed its bought deal financing, including the full exercise of the over-allotment option, for gross proceeds of C$64,241,470.

The offering consisted of 28,610,000 common shares, 12,831,000 hard dollar units and 14,590,000 flow-through units. Each hard dollar unit and flow-through nit is comprised of one common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $1.25 for a period of 24 months subject to acceleration. 

The offering was conducted by a syndicate of underwriters co-led by Desjardins Capital Markets and BMO Capital Markets and including Stifel GMP, Raymond James, CIBC World Markets, Sprott Capital Partners, and Agentis Capital.

Derek White, President and CEO of Ascot, commented on the financing.

“We are pleased to close the equity financing including the full exercise of the over-allotment option, which was made possible by strong support from existing and new institutional shareholders. The proceeds will be used to fund the construction of the Premier Gold Project, our 2022 exploration drilling program, and for general working capital purposes. We are excited to advance PGP into full-scale construction and underground development shortly and are eager to become Canada’s newest gold producer starting in Q1 of 2023.”

Ascot is a Canadian-based exploration and development company focused on re-starting the past-producing historic Premier gold mine, located in British Columbia’s Golden Triangle.

Ascot Resources (AOT) opened trading at $1.15 per share.

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