Non-brokered deal raises funds to explore Premier, Dilworth properties
By Devika Patel
Knoxville, Tenn., June 12 – Ascot Resources Ltd. said it raised C$1.46 million in the second and final tranche of a C$3.5 million non-brokered private placement of units. The deal priced for C$4 million on May 22 and took in C$2.04 million on May 30.
The company sold 3,679,556 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 and 1,533,026 units in the second tranche.
Each whole warrant is exercisable at C$1.05 for two years, with the first-tranche warrants exercisable until May 30, 2016 and the second-tranche warrants exercisable until June 12, 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$3,495,578
|
| Units: | 3,679,556
|
| Price: | C$0.95
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | May 30, 2016, June 12, 2016
|
| Warrant strike price: | C$1.05
|
| Agent: | Non-brokered
|
| Pricing date: | May 22
|
| Settlement date: | May 30 (for C$2,039,204), June 12 (for C$1,456,375)
|
| Stock symbol: | TSX Venture: AOT
|
| Stock price: | C$0.90 at close May 21
|
| Market capitalization: | C$76.18 million
|
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