From GlobeNewswire:

Ascot Resources Ltd. has secured approximately US$50 million in additional funding from Sprott Resource Streaming and Royalty Corp. and Nebari Natural Resources Credit Fund II. The funding will be used for the construction and operational ramp-up of the Premier Gold Project, to buy back existing royalties, for working capital, and for general corporate purposes. The financing package includes a royalty restructuring with Sprott Streaming, a US$20 million cost overrun facility with Nebari Credit Fund II, and a C$25 million offering. Ascot’s strategic investor Ccori Apu S.A.C. intends to participate in the offering to maintain their pro-rata share ownership. The proposed financing is expected to close on or about February 9, 2024. CEO Derek White stated that the funding package will ensure the company is well financed for the next stage of the Premier Gold Project and that restructuring the historical 5% NSR royalties is value accretive to the company. Additionally, Ascot has entered into a non-binding term sheet with Sprott Streaming for a 3.10% NSR royalty and a term sheet with Nebari Credit Fund II for a US$20 million Cost Overrun Facility. The Company will also be granting warrants to purchase Common Shares to Nebari Credit Fund II. These components are cross conditional and are anticipated to close on the same date.



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