Ascot Resources Announces Closing of C$34 Million Bought Deal Financing

VANCOUVER, British Columbia, July 25, 2024 (GLOBE NEWSWIRE) — Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce that it has closed the previously announced bought deal financing, including the full exercise of the over-allotment option, for gross proceeds of approximately C$34 million (the “Offering”). The Offering consisted of 30,242,000 flow-through units (the “Flow-Through Units”) at a price of C$0.496 per Flow-Through Unit and 44,188,000 hard dollar units (the “HD Units”) at a price of C$0.43 per HD Unit (together, the “Offered Securities”) for gross proceeds of approximately C$34 million. The Offering was conducted by a syndicate of underwriters co-led by BMO Capital Markets and Desjardins Capital Markets (together, the “Joint Bookrunners”), and including Raymond James Ltd., CIBC World Markets Inc., and Velocity Trade Capital Ltd. (collectively, with…