Ascot Announces Pricing of C$150 Million Brokered Private Placement and Nebari Restructuring Terms

Core Viewpoint - Ascot Resources Ltd. has announced a private placement offering of up to C$150 million in common shares, with additional options for raising up to C$25 million, aimed at funding the development of its Premier Gold Mine and Red Mountain project [2][3][8] Offering Details - The common shares will be sold at a price of C$0.60 per share, following a previously announced 50:1 share consolidation [4] - Ccori Apu S.A.C, a significant shareholder, will participate in the offering to maintain a 32% ownership stake [4] - Up to C$15 million of the offering may be sold as flow-through shares at a price of C$0.73 per share [5] Agent Compensation - The company will pay the agents a cash commission of 6.0% on the total proceeds raised, reduced to 2% for sales to significant shareholders [6] - Agents will also receive warrants to acquire shares equal to 6.0% of the shares sold, exercisable for 24 months from the closing date [7] Use of Proceeds - Net proceeds from the offering will be used for the development of the Premier Gold Mine and Red Mountain project, while proceeds from flow-through shares will be allocated to eligible Canadian development expenses [8] Closing Conditions - The closing of the offering is contingent upon receiving necessary stock exchange approvals and completing a previously announced rights offering and share consolidation [9] Securities Offering - The shares will be offered to accredited investors in Canada, U.S. investors under specific exemptions, and international investors in compliance with applicable laws [10] - The securities will be subject to a four-month hold period under Canadian securities law [11] Restructuring with Secured Creditors - The company is restructuring its agreements with secured creditors, including Nebari Gold Fund, with terms that include converting outstanding interest and principal to principal at closing and extending maturity to five years [15]