Ascot Resources completes C$25 million bought deal financing

On June 17, 2020, Ascot Resources Ltd. (“Ascot”) announced the closing of its previously announced bought deal financing for gross proceeds of C$25,000,200. The offering was led by Desjardins Capital Markets and Stifel GMP, and the underwriting syndicate also included Paradigm Capital Inc. and Sprott Capital Partners LP. Ascot issued an aggregate of 29,412,000 common shares at a price of C$0.85 per share. The proceeds are to be primarily directed towards the continued development of Ascot’s Premier Gold Project, including the purchase of long lead time equipment and for general working capital purposes. Fasken Martineau advised Desjardins Capital Markets and Stifel GMP, with a team led by Richard J. Steinberg and Brian Graves that included Myroslav Chwaluk, Allison Marks and Ryan Kleinman.