Secutor Capital Management is the agent; proceeds used for exploration
By Devika Patel
Knoxville, Tenn., June 4 - Ascot Resources Ltd. said it has arranged a C$5 million private placement of stock.
The company will sell 4,166,667 flow-through common shares at C$1.20 apiece.
The price per share represents a 10.09% premium to C$1.09, the June 1 closing share price.
The deal will be conducted by Secutor Capital Management Corp. on a commercially reasonable efforts basis.
Proceeds will be used for exploration on the company's properties in British Columbia.
The gold and silver exploration company is based in Vancouver, B.C.
| Issuer: | Ascot Resources Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$5 million
|
| Shares: | 4,166,667
|
| Price: | C$1.20
|
| Warrants: | No
|
| Agent: | Secutor Capital Management Corp.
|
| Pricing date: | June 4
|
| Stock symbol: | TSX Venture: AOT
|
| Stock price: | C$1.09 at close June 1
|
| Market capitalization: | C$74.99 million
|
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