Mr. Derek White reports
ASCOT ANNOUNCES CLOSING OF C$3 MILLION PRIVATE PLACEMENT
Further to its press release dated Sept. 7, 2018, Ascot Resources Ltd. has closed the non-brokered private placement of three million flow-through common shares at a price of $1 per flow-through share for gross proceeds of $3-million.
In connection with the offering, the company paid finders' fees in cash in the amount of $190,125 equal to 6.5 per cent of the $2,925,000 raised by the finders and issued 190,125 non-transferable warrants equal to 6.5 per centof the flow-through shares sold pursuant to the efforts of those finders. The finder warrants will be exercisable at $1 per finder warrant into common shares of the company for a period of 18 months from the closing of the offering.
All securities issued pursuant to the offering are subject to a statutory hold period expiring on Jan. 22, 2019.
The proceeds from the offering will be used for exploration of the company's Canadian properties. The company has expanded its 2018 drill program, through to end of October, to explore targets on its Premier-Dilworth properties, situated just 25 kilometres north of the town of Stewart, in the renowned Golden Triangle, located in northwestern British Columbia.Premier-Dilworth is a high-grade advanced gold project with superior infrastructure, including a mill, water treatment plant andtailings dam, along with access to excellent road and port facilities.
About Ascot Resources Ltd.
Ascot Resources is a gold-and-silver-focused exploration company with a portfolio of advanced and grassroots projects in the Golden Triangle region of British Columbia. The company's flagship Premier project is a near-term, high-grade advanced exploration project with large upside potential.
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