(MENAFN- Investor Ideas) Investorideas ( ), a go-to platform for big investing ideas for traders, including mining Stocks reports on trading for Ascot Resources Ltd. (TSX: AOT ) (OTCQX: AOTVF), the 100% owner of the Premier Gold Mine, which poured first gold in April 2024 and is located on Nisga'a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia.
The stock is currently trading at $0.2300, up 0.0450, gaining 24.32% on volume of over 1.8 Million shares as of this report.
Today Ascot Resources announced a plan to raise approximately C$40 million in funding to advance the development of the Premier Northern Lights mine ("PNL"), restart the mill and restart the Big Missouri mine ("BM") from the current state of temporary care & maintenance.
The Company has been in discussions with its main creditors, Sprott Private Resource Streaming and Royalty (B) Corp., Nebari Gold Fund 1, LP, Nebari Natural Resources Credit Fund II, LP and Nebari Collateral Agent LLC (collectively the "Secured Creditors") who have entered into a non-binding indicative term sheet with the Company to provide up to US$11.25 million in new senior debt on the terms, and subject to the conditions, described in such term sheet, including those set out below (the "Debt Financing"). As part of the Debt Financing, the Secured Creditors would extend their existing waiver and forbearance conditions until May 31, 2025.
The Company has also entered into an agreement with a syndicate of agents co-led by Desjardins Capital Markets and BMO Capital Markets (collectively the "Agents") in respect of a private placement, to be marketed on a best-efforts basis, of common shares of the Company (the "Common Shares") at a price of C$0.16 per Common Share (the "Offer Price") to raise a minimum of C$25,000,000 and up to a maximum of C$35,000,000 (the "Equity Financing").
Recent news release
About Investorideas - Big Investing Ideas
Investorideas is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.
Disclaimer/Disclosure: Alaska Energy Metals Corporation is a paid featured mining stock on Investorideas, Investorideas is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact management and IR of each company directly regarding specific questions. More disclaimer info: More disclaimer and disclosure info Learn more about publishing your news release and our other news services on the Investorideas newswire /News-Upload/ Global investors must adhere to regulations of each country.
MENAFN21102024000142011025ID1108803675
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.