Ascot Announces Closing of Rights Offering

Core Viewpoint - Ascot Resources Ltd. successfully closed its rights offering, raising gross proceeds of C$14,871,517 by issuing 1,487,151,720 common shares at a subscription price of C$0.01 per share [1][4]. Group 1: Rights Offering Details - The rights offering was oversubscribed, with shareholders requesting a total of approximately 2,116,855,740 common shares, exceeding the maximum subscription amount by approximately C$6,297,040 [4]. - Of the total common shares issued, 989,914,059 were allocated through the basic subscription privilege, while 497,237,661 were issued via the additional subscription privilege [2]. - Approximately 48.53% of the total common shares were issued to insiders prior to the closing of the rights offering, with no new insiders created as a result [2]. Group 2: Post-Offering Status - Following the rights offering, the total number of common shares outstanding is now 2,974,731,882 [3]. - The effective date for the previously announced share consolidation is set for December 16, 2025 [5]. - The net proceeds from the rights offering will be utilized to settle outstanding amounts owed to the company's creditors [5]. Group 3: Company Overview - Ascot Resources Ltd. is a Canadian mining company based in Vancouver, British Columbia, and is the 100% owner of the Premier Gold mine located on Nisga'a Nation Treaty Lands in the Golden Triangle of northwestern British Columbia [9].