Ascot Announces Launch of C$0.01 Rights Offering

Core Viewpoint - Ascot Resources Ltd. is initiating a rights offering to raise gross proceeds of up to C$14,871,517 to settle outstanding amounts owed to creditors [1][12]. Rights Offering Details - The company will offer 1,487,151,720 rights to shareholders, with each right allowing the subscription for one common share at a price of C$0.01 [2]. - The rights will expire on December 12, 2025, and unexercised rights will become void [4]. - Shareholders who fully exercise their rights will have the opportunity to subscribe for additional shares from unexercised rights [4]. Standby Agreement - A standby agreement has been established with Fiore Management and Advisory Corp., which will acquire all outstanding rights shares not taken up by shareholders [5]. Share Structure Post-Offering - Upon completion of the rights offering, assuming all rights are exercised, the total number of common shares outstanding will be 2,974,303,440, with rights shares representing approximately 50% of the total [7]. Eligibility and Subscription Process - The rights will be offered to shareholders in all provinces and territories of Canada, and registered shareholders must submit their subscription forms to the rights agent by the expiry time [6]. - Shareholders outside of eligible jurisdictions must provide evidence of eligibility to participate in the rights offering [8]. Closing and Consolidation - The rights offering is expected to close around December 15, 2025, subject to necessary approvals [9]. - Following the rights offering, the company plans to execute a 50:1 share consolidation [10]. Use of Proceeds - The net proceeds from the rights offering will be utilized to settle outstanding debts owed to creditors [12]. Additional Information - Further details regarding the rights offering will be available in the company's circular and notice, which will be filed on SEDAR+ [13].