Ascot Resources ( (TSE:AOT) ) has issued an announcement.
Ascot Resources Ltd. has successfully closed the first tranche of its private placement, raising approximately C$42.0 million through the issuance of charity flow-through units and hard dollar units. The proceeds will be used for Canadian development expenses and to advance the Premier Gold Project. The company has also extended waiver and forbearance conditions with its secured creditors and amended its credit agreement with Nebari, increasing the maximum number of shares issuable under its convertible facility. Additionally, Ascot relied on a financial hardship exemption from the TSX, which is under delisting review, potentially affecting its listing status.
More about Ascot Resources
Ascot Resources Ltd. operates in the mining industry, focusing on the development and production of gold and other mineral resources. The company is primarily engaged in advancing its Premier Gold Project, which is a significant part of its market focus.
YTD Price Performance: -36.84%
Average Trading Volume: 1,314,140
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$103.3M
For an in-depth examination of AOT stock, go to TipRanks’ Stock Analysis page.