Non-brokered deal raises funds to explore Premier, Dilworth properties
By Devika Patel
Knoxville, Tenn., May 30 - Ascot Resources Ltd. said it raised C$2.04 million in the first tranche of a C$4 million non-brokered private placement of units. The deal priced on May 22.
The company is selling 4,210,526 units of one flow-through common share and one half-share warrant at C$0.95 per unit. It sold 2,146,530 units in the initial tranche.
Each whole warrant will be exercisable at C$1.05 for two years, with the first-tranche warrants exercisable until May 30, 2016. The strike price reflects a 16.67% discount to the May 21 closing share price of C$0.90.
Proceeds will be used for exploration on the Premier and Dilworth properties.
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 one half-share warrant
|
| Amount: | C$4 million
|
| Units: | 4,210,526
|
| Price: | C$0.95
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.05
|
| Agent: | Non-brokered
|
| Pricing date: | May 22
|
| Settlement date: | May 30 (for C$2,039,204)
|
| Stock symbol: | TSX Venture: AOT
|
| Stock price: | C$0.90 at close May 21
|
| Market capitalization: | C$82.6 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
