On March 8, 2022, a syndicate of underwriters co-led by Desjardins Securities Inc. and BMO Nesbitt Burns Inc. and including Stifel Nicolaus Canada Inc., Agentis Exempt Market Dealer Limited Partnership, CIBC World Markets Inc., Raymond James Ltd., and Sprott Capital Partners LP (collectively, the "Underwriters") closed a C$64 million bought deal financing (the "Offering") for Ascot Resources Ltd. ("Ascot"), a junior exploration and development company focused on re-starting the past producing Premier gold mine, located in British Columbia's Golden Triangle.
The Offering consisted of (i) 28,610,000 common shares of Ascot; (ii) 12,831,000 hard dollar units of Ascot; (iii) 14,590,000 units of Ascot that qualify as “flow through shares”, as defined in the Income Tax Act (Canada); and (iv) 3,240,000 common shares of Ascot that qualify as “flow-through shares”, as defined in the Income Tax Act (Canada). Each unit comprised of one common share and one half of one common share purchase warrant of Ascot.
Fasken advised the Underwriters with a team consisting of Richard Steinberg, Myroslav Chwaluk, Florind Polo, Fatima Husnain, Taylor West, Alexis Shamess and Mitchell Thaw.
Jurisdictions
- British Columbia
- Ontario
