Total
0
Shares
Metals Creek begins prospecting at Dona Lake
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Ascot Resources (AOT) has closed its bought deal financing
  • 70,700,000 common shares were sold at C$0.86 per share for gross proceeds of approximately C$61 million
  • Underwriters included BMO Capital Markets and Raymond James Ltd. and included Desjardins Securities Inc., Stifel GMP and Sprott Capital Partners LP.
  • Proceeds will be used to fund the construction of the Premier Gold Project and for general working capital purposes
  • Ascot Resources is a Canadian-based junior exploration and development company
  • Ascot Resources Ltd. (AOT) is up 1.18 per cent, trading at $0.86 per share at 10 am ET

Ascot Resources Ltd (AOT) has closed its previously announced bought deal financing.

A total of 70,700,000 common shares were sold in the base deal and the over-allotment option at C$0.86 per share for gross proceeds of approximately C$61 million. 

The Offering was conducted by a syndicate of underwriters led by BMO Capital Markets and Raymond James Ltd. and included Desjardins Securities Inc., Stifel GMP and Sprott Capital Partners LP.

Derek White, President and CEO, commented,

“We are pleased that we were able to raise capital in a challenging capital markets environment. The completion of the Offering will be used to fund the construction of the Company’s Premier Gold Project, and for general working capital purposes. Ascot looks forward to a very productive year ahead with the construction forecasted to commence later this year and in due course, we will be updating the market with our 2021 exploration plans.”

The shares were issued by way of a prospectus supplement to the company’s base shelf prospectus dated January 21, 2021. The common shares were also offered by way of private placement in the United States.

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

Ascot Resources Ltd. (AOT) is up 1.18 per cent, trading at $0.86 per share at 10 am ET.

More From The Market Herald
ALX Resources (TSXV:AL) announces $1.5 million private placement

" ALX Resources (TSXV:AL) announces $1.5 million private placement

ALX Resources (AL) has announced a non-brokered private placement for gross proceeds of up to $1.5 million.
Cruz Battery Metals (CSE:CRUZ) significantly expands its Solar Lithium Project

" Cruz Battery Metals (CSE:CRUZ) significantly expands its Solar Lithium Project

Cruz Battery Metals (CRUZ) has expanded its drill-ready Solar Lithium Project in Nevada from 3,202 to 5,500 acres.
Sirios Resources (TSXV:SOI) signs its second drilling contract with Synee Drilling

" Sirios (TSXV:SOI) completes $448,996 capital raise

Sirios Resources (SOI) has closed its non-brokered private placement and flow-through private placement for aggregate gross proceeds of $448,996.
Origen (CSE:ORGN) capitalizes on lithium first-mover advantage in Newfoundland

" Spearmint (CSE:SPMT) commences phase II work program at the Goose Gold Project

Work has commenced on Spearmint Resources’ (SPMT) phase II work program at the Goose Gold Project.