Ascot Resources Ltd. (TSX: AOT | OTCQX: AOTVF) has finalized the terms of definitive documentation for a total of approximately US$50M in funding from Sprott Resource Streaming and Royalty Corp. and its affiliates, and Nebari Natural Resources Credit Fund.
Ascot, Sprott Streaming, and Nebari have signed the definitive documentation into escrow with an anticipated effective date of 20 February 2024.
In addition, Ascot has announced that the closing date for the previously announced bought deal financing with a syndicate of underwriters co-lead by BMO Capital Markets and Desjardins Capital Markets, is now scheduled for the 20 February 2024.
The company has received TSX conditional approval for these transactions, however, the closing of the bought deal financing remains subject to customary closing conditions. The release from escrow of the definitive documentation executed by Ascot, Sprott Streaming, and Nebari is subject to the parties’ express release upon the concurrent completion of the bought deal financing and the submission for registration of certain debentures.
Ascot Resources is a Canadian junior exploration and development company focused on restarting the historical Premier gold mine, located in British Columbia’s prolific Golden Triangle.
To find out more, please visit www.ascotgold.com
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