By Devika Patel
Knoxville, Tenn., April 22 - Ascot Resources Ltd. said it plans to conduct a C$7.5 million private placement of units on a commercially reasonable-efforts basis.
The company will sell 2,777,778 flow-through units at C$0.90 apiece for C$2.5 million. Each flow-through unit consists of one flow-through common share and one half-share warrant. Each whole flow-through warrant is exercisable at C$1.00 for two years.
The company also will sell 6,329,114 units at C$0.79 apiece for C5 million. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.95 for two years.
The deal will be conducted by a syndicate of agents led by Jones Gable & Co. Ltd. and Primary Capital Inc. Macquarie Private Wealth Inc. will be entitled to place up to 2,222,223 of the flow-through units.
Settlement is expected on May 12.
The junior mineral exploration and development company is based in Vancouver, B.C.
| Issuer: | Ascot Resources Ltd.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one warrant
|
| Amount: | C$7.5 million
|
| Warrant expiration: | Two years
|
| Agent: | Jones Gable & Co. Ltd. and Primary Capital Inc. (leads), Macquarie Private Wealth Inc.
|
| Pricing date: | April 22
|
| Settlement date: | May 12
|
| Stock symbol: | TSX Venture: AOT
|
| Stock price: | C$0.79 at close April 21
|
| Market capitalization: | C$45.5 million
|
|
|
| Flow-through units
|
| Amount: | C$2.5 million
|
| Units: | 2,777,778
|
| Price: | C$0.90
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$1.00
|
|
|
| Units
|
| Amount: | C$5 million
|
| Units: | 6,329,114
|
| Price: | C$0.79
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.95
|
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