Business
Ascot Resources Announces Closing of Rights Offering
VANCOUVER, British Columbia, Dec. 15, 2025 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSXV: AOT.H; OTCID: AOTVF) (“Ascot” or the “Company”) is pleased to announc
About this update from Cambria Gold Mines Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 15, 2025 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSXV: AOT.H; OTCID: AOTVF) (“Ascot” or the “Company”) is pleased to announce the closing of its rights offering (the “Rights Offering”), previously disclosed in the Company’s press release dated November 7, 2025. The shareholders of Ascot exercised rights (the “Rights”) to acquire 1,487,151,720 common shares of the Company (the “Common Shares”). Each Right consisted of one Common Share, exercised at a subscription price of C$0.01 per Common Share for aggregate gross proceeds of C$14,871,517. Of the 1,487,151,720 Common Shares issued, 989,914,059 Common Shares were issued pursuant to the basic subscription privilege and 497,237,661 Common Shares were issued pursuant to the additional subscription privilege. To the knowledge of the Company, approximately 48.53% of the total Common Shares were issued to persons who were insiders before closing of the Rights Offering. The closing of the Rights Offering did not result in the creation of any new insiders. Following closing of the Rights Offering, the Company has a total of 2,974,731,882 Common Shares outstanding. The Rights Offering was oversubscribed through the exercise of additional subscription privileges, with shareholders subscribing for Rights to purchase an aggregate of approximately 2,116,855,740 of Common Shares, which was approximately C$6,297,040 more than the maximum subscription amount of C$14,871,517. As a result, the Company did not issue any Common Shares nor pay any fees to the stand-by purchaser pursuant to the Rights Offering. Following closing of the Rights Offering, the effective date of the previously announced share consolidation will be December 16, 2025. The Company intends to use the net proceeds from the Rights Offering to settle outstanding amounts owed to the Company’s creditors. Additional Information This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. The securities being offered have...