Ascot Extends Waiver Arrangements With Its Secured Creditors
Press Release
Vancouver, B.C., September 19, 2024 – Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) today announced that 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”) have agreed to extend the waiver and forbearance agreements previously granted by the Secured Creditors relating to certain additional pre-existing defaults and potential future defaults under the purchase and sale agreements dated as of January 19, 2023 (the “Purchase and Sale Agreements”), the credit agreement dated as of June 16, 2023, as amended by a first amending agreement dated as of February 20, 2024 (the “Convertible Credit Agreement”) and the cost overrun credit agreement dated as of February 20, 2024 (and together with the Purchase and Sale Agreements and the Convertible Credit Agreements, collectively the “Agreements”) until October 31, 2024.
Following this extension, the Company will continue discussions with its Secured Creditors regarding its previously disclosed intention for mine development and the future operations of the Company.
On behalf of the Board of Directors of Ascot Resources Ltd.
“Derek C. White”
President & CEO, Director
For further information contact:
Kristina Howe
VP, Communications
khowe@ascotgold.com
778-725-1060 ext. 1019
About Ascot
Ascot is a Canadian mining company headquartered in Vancouver, British Columbia and its shares trade on the TSX under the ticker AOT and on the OTCQX under the ticker AOTVF. Ascot is the 100% owner of the Premier Gold Mine (“Premier”), 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.
For more information about the Company, please refer to the Company’s profile on SEDAR+ at www.sedarplus.ca or visit the Company’s web site at www.ascotgold.com.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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