Ascot Resources (AOT-V) June 24, '16 is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement for 2,347,400 units at a price of $1.25 per Unit for gross proceeds of $2,934,250.00. Each Unit consists of one flow-through share and one-half of one non-transferable, common share purchase warrant. Each whole warrant is exercisable for an additional common share until December 24, 2017 at an exercise price of $1.75 per warrant.
In connection with the Offering, the finders received a cash commission equal to 7.0% of the gross proceeds raised under the Offering by the finders and 162,078 non-transferable warrants ("Finder's Warrants"). Each Finder's Warrant is exercisable to purchase one common share until December 24, 2017 at an exercise price of $1.25 per Finder's Warrant.
All securities issued pursuant to the Offering are subject to a statutory hold period expiring on the date that is four months and one day following the date of issuance.
The proceeds from the Offering will be used for exploring the Company's Premier property and will constitute Canadian Exploration Expenses.
For more information concerning the Company, please refer to the Company's profile on the SEDAR website at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF ASCOT RESOURCES LTD.
John A Toffan, President
Ascot Resources Ltd.
(604) 379-1170
www.ascotresources.ca |
