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Ascot Announces Closing of $7.5 Million Offering

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Ascot Resources Ltd. (TSX-V:AOT) is pleased to announce that it has completed its previously announced non-brokered private placement of 7,533,967 units at a price of $1.00 per Unit for gross proceeds of $7,533,967.00. Each Unit consists of one common share and one non-transferable, common share purchase warrant. Each whole warrant is exercisable for an additional common share until June 15, 2017 at an exercise price of $1.05 per warrant.

 

 

In connection with the Offering, the finders received a cash commission equal to 7.0% of the gross proceeds raised under the Offering by the finders and 513,471 non-transferable warrants. Each Finder’s Warrant is exercisable to purchase one common share until June 15, 2017 at an exercise price of $1.05 per Finder’s Warrant.

 

 

All securities issued pursuant to the Offering are subject to a statutory hold period expiring on the date that is four months and one day following the date of issuance.

 

 

The net proceeds from the Offering will be used to make the December 30, 2015 option payment on the Company’s Premier / Dilworth property of $6,850,000 and the balance will be used for working capital.

 

 

For more information concerning the Company, please refer to the Company’s profile on the SEDAR website at www.sedar.com.

 

Posted December 17, 2015

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