Ascot Arranges C$200 Million Financing Package For Construction Of The Premier Gold Project
12/12/22, 11:01 AM
Location
vancouverIndustry
mining
Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce the Company has entered into non-binding letters of intent for a total of approximately C$200 million in project financing for construction of the Premier Gold Project (“PGP” or the “project”), located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. The proposed finance package will consist of a US$110 million gold and silver streaming agreement (the “Stream”) with Sprott Resource Streaming and Royalty Corp. and/or its affiliates (“Sprott Streaming” or “SRSR”) and a strategic equity investment (the “Strategic Investment”) by Ccori Apu S.A.C (“Ccori Apu”) of C$45 million, a portion of which will be structured as Canadian Development Expenditures flow through shares (“CDE flow through”), such that the total gross proceeds to the Company is C$50 million
Company Info
Location
vancouver, british columbia, canada
Additional Info
Ascot Resources is a Vancouver based gold company publicly traded on the Toronto Stock Exchange. The Company is focused on re-starting the past producing Premier gold mine with feed from four deposits. Premier is located just 25 kilometres from the town of Stewart, in northwestern British Columbia in a prolific area known as the Golden Triangle.