Non-brokered deal funds option payment on Premier, Dilworth property
By Devika Patel
Knoxville, Tenn., Dec. 16 – Ascot Resources Ltd. said it settled its C$7,533,967 non-brokered private placement of units. The deal priced for C$5 million on Nov. 24 and was increased to C$10 million on Nov. 30.
The company sold 7,533,967 units of one share and one warrant at C$1.00 per unit.
Each warrant is exercisable at C$1.05 until June 15, 2017. The strike price is identical to the Nov. 23 closing share price.
Proceeds will be used to make the Dec. 30 option payment on the Premier and Dilworth property.
The gold and silver exploration company is based in Vancouver, B.C.
| Issuer: | Ascot Resources Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$7,533,967
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| Units: | 7,533,967
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| Price: | C$1.00
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| Warrants: | One warrant per unit
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| Warrant expiration: | June 15, 2017
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| Warrant strike price: | C$1.05
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| Agent: | Non-brokered
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| Pricing date: | Nov. 24
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| Upsized: | Nov. 30
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| Settlement date: | Dec. 16
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| Stock symbol: | TSX Venture: AOT
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| Stock price: | C$1.05 at close Nov. 23
|
| Market capitalization: | C$91.7 million
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