Ascot Sees Yamana Gold Take 6.4% Stake In Company

Ascot Resources (TSX: AOT) has seen Yamana Gold (TSX: YRI) take a notable stake in the company. The arrangement, lead by Stifel GMP, will see Yamana take a total stake of 6.4% in exchange for $20.6 million.

The investment, which on a technical level is being conducted on a bought deal basis financing, will see Yamana acquire a total of 24.0 million common shares of the issuer at a price of $0.86 per share. The acquisition follows Ascot closing a $61.0 million bought deal financing last week.

Proceeds from the offering will be used for the construction of Ascot’s Premier Gold Project in BC, as well as working capital and general corporate purposes. The offering is expected to close April 20, 2021.

The stake being taken by Yamana is reportedly occurring for investment purposes.

Ascot Resources last traded at $0.88 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Premier Gold Mines Considers Spin Out Of US-Based Assets

Premier Gold Mines (TSX: PG) this morning announced that it is currently examining certain “asset...

Wednesday, August 5, 2020, 09:03:47 AM

Inflation Is Here: Gold Will Benefit – The Daily Dive feat Russell Starr

Today on the Daily Dive, we see the return of Russell Starr, a frequent commentator...

Tuesday, March 2, 2021, 01:30:00 PM

Gold Flash Crash: A Psychological Rather Than Financial Event – The Daily Dive

Joining us back on the Daily Dive is Rick Rule, the former President and CEO...

Tuesday, August 31, 2021, 01:30:00 PM

Pretium Resources Intersects 72.5 G/T Gold Over 53.5 Metres At Golden Marmot Zone

Pretium Resources Inc. (TSX: PVG) announced yesterday morning initial assays from the 2021 drill program...

Tuesday, October 26, 2021, 01:24:00 PM

Montage Gold Indicates IRR Of 31% For Kone Project In PEA

Montage Gold Corp. (TSXV: MAU) shared today the results of its preliminary economic assessment for...

Tuesday, May 25, 2021, 09:11:19 AM