Macquarie Private Wealth is the agent; proceeds used for exploration
By Devika Patel
Knoxville, Tenn., May 25 - Ascot Resources Ltd. said it plans a C$2.55 million private placement of units. The deal is being conducted by Macquarie Private Wealth Inc.
The company will sell 3 million units of one flow-through common share and one half-share warrant at C$0.85 per unit on a commercially reasonable-efforts basis. Each whole warrant will be exercisable at C$0.95 for two years. The strike price reflects a 39.71% premium to the May 24 closing share price of C$0.68.
Settlement is expected June 17.
Proceeds will be used for exploration.
The gold and silver exploration company is based in Vancouver, B.C.
| Issuer: | Ascot Resources Ltd.
|
| Issue: | Units of one flow-through common share and a half-share warrant
|
| Amount: | C$2.55 million
|
| Units: | 3 million
|
| Price: | C$0.85
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.95
|
| Agent: | Macquarie Private Wealth Inc.
|
| Pricing date: | May 25
|
| Settlement date: | June 17
|
| Stock symbol: | TSX Venture: AOT
|
| Stock price: | C$0.68 at close May 24
|
| Market capitalization: | C$42.5 million
|
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