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Ascot Announces Closing of the Final Tranche of Private Placement, Raising Aggregate Gross Proceeds of C$175 Million and Appoints Alex Morrison as Chair of the Board of Directors
VANCOUVER, British Columbia, Jan. 27, 2026 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. ( TSXV: AOT...
About this update from Cambria Gold Mines Inc.
[{"type":"text","content":"Ascot Announces Closing of the Final Tranche of Private Placement, Raising Aggregate Gross Proceeds of C$175 Million and Appoints Alex Morrison as Chair of the Board of Directors\nVANCOUVER, British Columbia, Jan. 27, 2026 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSXV: AOT.H; OTCID: AOTVF) (“Ascot” or the “Company”) is pleased to announce that it has closed the second and final tranche (the “Second Tranche”) of the previously announced “best efforts” brokered private placement (the “Offering”) of charity flow-through units of the Company (the “CDE FT Units”) and hard dollar units of the Company (the “HD Units”, and together with the CDE FT Units, the “Offered Securities”). The aggregate gross proceeds raised from the first tranche of the Offering (the “First Tranche”) and Second Tranche totalled approximately C$175 million. The Offering was conducted by a syndicate of agents co-led by Canaccord Genuity Corp. and Raymond James Ltd. and included Desjardins Capital Markets (the “Agents”). The First Tranche closed on December 30, 2025 (the “First Tranche Closing Date”). The Second Tranche consisted of 34,246,576 CDE FT Units at a price of C$0.73 per CDE FT Unit for gross proceeds of approximately C$25 million and 116,411,520 HD Units at a price of C$0.60 per HD Unit for gross proceeds of approximately C$69.8 million. Each Offered Security is comprised of one common share of the Company (each, a “Common Share”) and one-half of one Common Share purchase warrant of the Company (each whole Common Share purchase warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share (each, a “Warrant Share”) at an exercise price of C$0.85 per Warrant Share for a period of 12 months following December 30, 2026, being 12 months from the closing date of the First Tranche. The Offered Securities will be subject to a hold period, in accordance with Canadian securities law, expiring four months and one day from their respective issue dates. Net proceeds from the sale of the HD Units comprising part of the Offering will be used to further develop the Premier Gold Mine and Red Mountain project and for general corporate purposes...