Exclusive Financial Advisor to Ascot Resources on its C$50 million equity financing with Ccori Apu S.A.C
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
Our Role
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
Mining
Exclusive Financial Advisor to Ascot Resources on its C$50 million equity financing with Ccori Apu S.A.C
