Overview

• Ascot Resources (TSX:AOT) announced Ccori Apu’s C$50 million strategic investment for 19.9% of the pro forma ownership accompanied by a streaming deal with Sprott Streaming and Royalty
  • The strategic investment consists of 48.5 million common shares of Ascot at a price of C$0.41 per common share for gross proceeds of C$19,885,000 and 60.0 million common shares of Ascot that qualify as “flow through shares” at C$0.50 per CDE common share for gross proceeds of C$30,000,000

MPA’s Role and Key Considerations

• Poderosa’s shareholder Ccori Apu was introduced to Ascot Resources during the PDAC 2022 when broader discussion began, and the idea of a strategic partnership was established
• MPA’s deal team together with its partner firm SUMMA in Peru advanced discussion in Peru outlining various merits for a transaction as well as representing to Ascot the benefits of securing a strategic partner at this stage of the company
• MPA was engaged by Ascot Resources as an Advisor with respect to its proposed offering of securities to Ccori Apu by way of a private placement, to define deal terms and execute in an expeditiously manner

Outcome

• Ccori Apu relied on MPA’s mining deal experience in Canada while Ascot Resources relied on MPA determining the best financing structure 
• Ascot Resources announced the completion of the strategic equity investment by Ccori Apu of $45 million, a portion of which was structured as Canadian Development Expenditures flow through shares, equating to gross proceeds of $50 million