Ascot Announces Closing of the Final Tranche of Private Placement, Raising Aggregate Gross Proceeds of C$175 Million and Appoints Alex Morrison as Chair of the Board of Directors

Core Viewpoint - Ascot Resources Ltd. has successfully closed the second and final tranche of a brokered private placement, raising a total of approximately C$175 million from both tranches of the offering [1][2]. Group 1: Offering Details - The second tranche raised approximately C$25 million from the sale of 34,246,576 charity flow-through units (CDE FT Units) priced at C$0.73 each and approximately C$69.8 million from 116,411,520 hard dollar units (HD Units) priced at C$0.60 each [2]. - Each offered security consists of one common share and one-half of a common share purchase warrant, with warrants exercisable at C$0.85 for a period of 12 months following December 30, 2026 [2]. - The total gross proceeds from both the first and second tranches amounted to approximately C$175 million [1]. Group 2: Use of Proceeds - Net proceeds from the HD Units will be allocated to further development of the Premier Gold Mine and Red Mountain project, as well as for general corporate purposes [3]. - Proceeds from the CDE FT Units will be used to incur eligible "Canadian development expenses" as defined by the Income Tax Act (Canada) [4]. Group 3: Agent Compensation - The agents involved in the second tranche received a cash fee of 6% of the aggregate gross proceeds and were granted 9,039,485 non-transferable broker warrants, each entitling the holder to purchase one common share at an exercise price of C$0.60 for 24 months [5]. Group 4: Management Changes - Ascot has appointed Alex Morrison as the new non-executive Chair of the Board of Directors, effective January 27, 2026, succeeding Indi Gopinathan [7]. Group 5: Equity Grants - The company granted 22,300,000 incentive stock options to directors, officers, employees, and consultants, with an exercise price of C$1.75, vesting over eighteen months [8][9]. - Additionally, 8,430,260 restricted share units (RSUs) and 740,000 deferred share units (DSUs) were granted, vesting equally over three years [10].