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Ascot Resources Reports First Quarter 2025 Results
VANCOUVER, British Columbia, May 12, 2025 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) announces the Company's u
About this update from Cambria Gold Mines Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, May 12, 2025 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) announces the Company's unaudited financial results for the three months ended March 31, 2025 (\"Q1 2025\"), For details of the unaudited condensed interim consolidated financial statements and Management's Discussion and Analysis for the three months ended March 31, 2025, please see the Company's filings on SEDAR+ (www.sedarplus.ca). All amounts herein are reported in $000s of Canadian dollars unless otherwise specified. Q1 2025 AND RECENT HIGHLIGHTS On January 15, 2025, the Company announced a leadership transition. Mr. Derek White, president and CEO, Mr. John Kiernan, COO, and Mr. Bryant Schwengler, VP &GM, had resigned from the Company. Mr. James (Jim) Currie was appointed as CEO and Director and served as interim COO. Ms. Coille Van Alphen, portfolio manager for Equinox Partners, was appointed to the Board of Directors of the Company. Ms. Diana Mark, Greystone Corporate Services Inc. had been hired as Corporate Secretary and KIN Communications had been retained to handle the Company’s investor relations and communications. On March 7, 2025, the Company announced it had entered into an agreement with respect to a brokered private placement (the “2025 Offering”), to be marketed on a best-effort basis, which consisted of: (i) hard dollar units of the Company (the “HD Unit”) at a price of $0.115 per HD Unit for gross proceeds of a minimum of $40 million and up to a maximum of $45 million; and (ii) charity flow-through units of the Company (the “CDE Unit”) at a price of $0.1403 per CDE FT Unit for gross proceeds of approximately $20 million. Each Unit will be comprised of one common share in the capital of the Company and one warrant to purchase a Common Share. 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)). On March 14, 2025, the first tranche of 2025 Offering closed and it consisted of 142,551,675 CDE FT Units at a price of $0.1403 per CDE FT Unit and 191,435,095 HD Units at a price of $0.115 per HD Unit for gross proceeds of $42 million. The second tranche of the 2025 Offering closed on April 10, 2025 which was consisted of 166,686,959 HD Units at a price o...