The Prospector News

Ascot Closes Final Tranche of Flow Through Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Ascot Closes Final Tranche of Flow Through Private Placement

 

 

 

 

 

Ascot Resources Ltd. (TSX: AOT) (OTCQX: AOTVF) is pleased to announce that, further to the Company’s news release dated May 7, 2024, the Company has closed the second of two tranches of the C$5.0 million non-brokered flow through private placement, the proceeds of which will be used to fund the 2024 exploration program at the Company’s Premier Gold Project, located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia.

 

The Offering consists of 6,024,096 common shares of the Company, which qualify as “flow-through shares” within the meaning of the Income Tax Act (Canada), at a price of C$0.83 per FT Share. Under the Second Tranche, the Company issued 4,820,000 FT Shares for gross proceeds of C$4,000,600.

 

The gross proceeds from the issuance of the FT Shares will be used for “Canadian exploration expenses”, and will qualify as “flow-through mining expenditures” as those terms are defined in the Income Tax Act (Canada), which will be renounced to the purchaser of the FT Shares with an effective date no later than December 31, 2024 in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares.

 

The FT Shares issued in the Offering will be subject to a hold period expiring four months and one day from their issue date.

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

 

About Ascot Resources Ltd.

 

Ascot is a Canadian mining company focused on commissioning its 100%-owned Premier Gold Mine, which poured first gold in April 2024 and is located on Nisga’a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia. Concurrent with commissioning Premier towards commercial production anticipated in Q3 of 2024, the Company continues to explore its properties for additional high-grade gold mineralization. Ascot is committed to the safe and responsible operation of the Premier Gold Mine in collaboration with Nisga’a Nation and the local communities of Stewart, BC and Hyder, Alaska.

 

Posted June 21, 2024

Share this news article

MORE or "UNCATEGORIZED"


G Mining Ventures Announces Closing of Private Placements and Receipt of Final Order for Arrangement with Reunion Gold

All amounts are in USD unless stated otherwise $50 million privat... READ MORE

July 12, 2024

SilverCrest Provides Second Quarter Operational Results

Record Revenue, Treasury Assets Increased by 34% During the Quart... READ MORE

July 12, 2024

New Found Intercepts Nine New Gold Zones Spanning 3km in Strike, Doubles Known Vertical Extent of Gold Mineralization to 820m Depth at Queensway

New Found Gold Corp. (TSX-V: NFG) (NYSE-A: NFGC) is pleased to a... READ MORE

July 11, 2024

Kobo Resources Reports Significant Gold Intersections at its Kossou Gold Project With 9.0 Metres at 23.89 g/t Au, Including 1.0 Metre at 210.00 g/t Au and 9.0 Metres at 4.27 g/t Au

Completion of First Diamond Drill Program with 25 Holes (4,368 m)... READ MORE

July 11, 2024

International Battery Metals (IBAT) Commences Operations of World's First Commercial Modular Direct Lithium Extraction (DLE) Plant and First Commercial DLE Plant in North America

Industry-disrupting technology breakthrough vaults IBAT to global... READ MORE

July 11, 2024

Copyright 2024 The Prospector News