Ascot Resources Ltd (TSX.V: AOT) (OTCQX: AOTVF) is pleased to announce that further to its press release dated September 7, 2018, it has closed the non-brokered private placement of 3,000,000 flow-through common shares at a price of C$1.00 per FT Share for gross proceeds of C$3,000,000.
In connection with the Offering, the Company paid finder’s fees in cash in the amount of $190,125 equal to 6.5% of the $2,925,000 raised by the finders and issued 190,125 non-transferable warrants equal to 6.5% of the Flow-Through Shares sold pursuant to the efforts of those finders. The Finder’s Warrants will be exercisable at $1.00 per Finder’s Warrant into common shares of the Company for a period of eighteen months from the closing of the Offering.
All securities issued pursuant to the Offering are subject to a statutory hold period expiring on January 22, 2019.
The proceeds from the Offering will be used for exploration of the Company’s Canadian properties. The Company has expanded its 2018 drill program, through to end of October, to explore targets on its Premier-Dilworth properties, situated just 25 kilometers north of the town of Stewart, in the renowned Golden Triangle, located in Northwestern British Columbia. Premier-Dilworth is a high-grade advanced gold project with superior infrastructure, including a mill, water treatment plant, tailings dam along with access to excellent road and port facilities.
For more information concerning the Company, please refer to the Company’s profile on SEDAR at www.sedar.com.
About Ascot Resources Ltd.
Ascot Resources is a gold and silver focused exploration company with a portfolio of advanced and grassroots projects in the Golden Triangle region of British Columbia. The company’s flagship Premier Project is a near-term high-grade advanced exploration project with large upside potential. Ascot is poised to be the next Golden Triangle producer with an experienced and successful exploration, development and operating team, coupled with a highly regarded major shareholder.
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