Ascot prices C$150M placement, outlines debt‑rework with Nebari

Canadian mining company Ascot Resources Ltd. (TSXV: AOT.H; OTCID: AOTVF) announced on December 1, 2025 that it has agreed with a syndicate of agents — co‑led by Canaccord Genuity Corp. and Raymond James Ltd., including Desjardins Capital Markets — to offer up to C$150 million of common shares in a brokered private placement (the “Offering”). Shares are priced at C$0.60 per share (post 50:1 consolidation), while up to C$15 million may be sold as flow‑through (“CDE”) shares at C$0.73 each. The Agents may also exercise an option to raise an additional C$25 million before closing. In exchange for their services, the Agents will receive a cash commission of 6% of gross proceeds (reduced to 2% for certain investors, including a major shareholder Ccori Apu S.A.C., which will participate to maintain its ~32% stake) — and warrants equal to 6% (2% for those significant investors) of the shares sold, exercisable within 24 months at the Offering Price. Proceeds from the Offering will be used to further develop Ascot’s Premier Gold Mine and the Red Mountain project, as well as for general corporate purposes. Proceeds from CDE Shares will go toward eligible Canadian development expenses. In parallel, Ascot revealed restructuring terms with secured creditor Nebari Gold Fund 1, LP and affiliates (together, “Nebari”). Under the plan (post-consolidation): Outstanding interest and principal on the “Cost Overrun Facility” will convert to principal at closing, the loan maturity extended by five years, amortized over eight quarterly payments during the final two years; related warrants’ exercise price resets to C$0.75/share; interest will be paid in shares (subject to approval) or in cash. Under the “Convertible Facility,” outstanding interest and principal likewise convert to principal; new principal becomes convertible to shares; maturity is extended three years; warrants reset at C$0.75/share and vest immediately; interest paid in shares (or cash if permitted); conversion price for the debt will be 50% at C$1.00/share and 50% at C$2.00/share. Additionally, Nebari will receive 10,250,000 bonus warrants at C$0.75/share — more favorable than previously announced terms. Closing of the Offering and restructuring depends on necessary stock exchange approvals, completion of a previously announced rights offering, and share consolidation. With this capital raise and debt rework, Ascot aims to strengthen its balance sheet and secure funding to advance gold‑mining operations — a move that may help stabilize the company as it pushes forward in the mineral-rich Golden Triangle region of British Columbia. #AscotResources #MiningNews #GoldMining #PrivatePlacement #SlimScan #GrowthStocks #CANSLIM