Business
Ascot Resources Announces Amendment of Previously Announced Equity Financing
VANCOUVER, British Columbia, March 03, 2025 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce
About this update from Cambria Gold Mines Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, March 03, 2025 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce that the Company and a syndicate of agents (the “Agents”) co-led by Desjardins Capital Markets (“Desjardins”) and BMO Capital Markets (“BMO”, and together with Desjardins, the “Bookrunners”) have agreed to amend its previously announced best-efforts private placement offering of units of the Company (the “Offering”). The Offering will target gross proceeds of at least C$60 million and up to a maximum of C$65 million, now consisting of: (i) hard dollar units of the Company (the “HD Units”) at a price of $0.115 per HD Unit (the “HD Unit Offering Price”) for gross proceeds of a minimum of C$40 million and up to a maximum of C$45 million (the “HD Offering”); and (ii) charity flow-through units of the Company (the “CDE FT Units”, and collectively with the HD Units, the “Units”) a price of C$0.1403 per CDE FT Unit (the “CDE FT Offering Price”) for gross proceeds of approximately C$20 million (the “CDE FT Offering”). Each Unit will be comprised of one common share of the Company (each, a “Common Share”) and one Common Share purchase warrant of the Company (each, a \"Warrant\"). The Common Shares and Warrants underlying the CDE FT Units shall qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)). Each Warrant shall entitle the holder to acquire one non-flow-through Common Share at a price of C$0.155 per Common Share for a period of 24 months following the Tranche 1 Closing Date (as defined below), subject to adjustments. The closing of Offering will consist of an initial tranche (“Tranche 1”) that is expected to close on or about March 14, 2025 (the “Tranche 1 Closing Date”) as well as a second tranche (“Tranche 2”) that is expected to close on or about April 10, 2025 (the “Tranche 2 Closing Date”, and collectively the “Closing Dates”). Tranche 1 will consist of all CDE FT Units to be issued pursuant to the CDE FT Offering, and may consist of a portion of the HD Units to be issued pursuant to the HD Offering. Tranche 2 will consist of the remaining HD Units not issued as part of Tranche 1 pursuant to the HD Offering. The Closing Dates may be adjusted as agreed among the Company and the Bookrunners, acting reasonably. The gross ...