Not for distribution to U.S. news services or distribution in the United States.
VANCOUVER, British Columbia, December 1, 2025 (GLOBE NEWSWIRE) — Ascot Resources Ltd. (TSXV: AOT.H; OTCID: AOTVF) (“Ascot” or “Company“) provides an update that it continues to pursue the proposed transactions disclosed on October 23, 2025 (“Restructuring“).
The Company's shares were suspended on November 28, 2025 pending the announcement of certain terms of the C$150 million private placement and secured creditor restructuring, which were described in the Company's press release regarding the restructuring dated October 23, 2025, however the Company has not reached an agreement, including pricing, and has no further information to announce at this time.
The structure and cost of the private placement remain uncertain. If the private placement is not completed, the Company will have to seek other alternatives, including the possibility of initiating proceedings under the Companies' Creditors' Arrangement Act (CCAA). There is no assurance that such alternatives will be available.
As of December 1, 2025, the company has a cash position of C$1.9 million and expects to have sufficient funds to support ongoing operations until mid-December.
Additional information
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States.
Neither NEX, the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Board of Directors of Ascot Resources Ltd.
James A. (Jim) Curry
CEO and Director
For more information contact:
E-mail: [email protected]
Phone: 778-725-1060
And:
Robert McLeod
E-mail: [email protected]
Phone: 604-617-0616
About Ascot
Ascot is a Canadian mining company headquartered in Vancouver, British Columbia, trading on the NEX under the ticker symbol AOT.H and on the OTCID under the ticker symbol AOTVF. Ascot is 100 percent owner of the Premier Gold Mine, which is located on Treaty lands of the Nisga'a Nation in the fertile Golden Triangle of northwestern British Columbia.
For additional information about the company, please refer to the company's profile on SEDAR+ at: www.sedarplus.ca or visit the Company's website at www.ascotgold.com.
Cautionary Statement Regarding Forward-Looking Information
All statements and other information contained in this press release regarding expected future events may constitute forward-looking information within the meaning of Canadian securities laws (“forward-looking statements“). Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “expect”, “believe”, “plan”, “estimate”, “expect”, “intend”, “forecast”, “on track” and “intend” and statements that an event or result “may”, “will”, “should”, “might”, “would” or “might” occur or “might” occur or be achieved. and other similar expressions. All statements, other than statements of historical facts, included herein include forward-looking statements, including statements regarding the terms of the private placement and the Restructuring, the Company's ability to achieve its business objectives and intentions described herein; and the future plans, development and performance of the Company. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including uncertainties associated with the closing of the private placement. and other components of the Restructuring, delays in obtaining required approvals to complete the uncertainty associated with completion of the Restructuring; risks relating to negative operating cash flows of the Company; fluctuations in commodity prices and currency exchange rates; risks related to outstanding debt; geology, continuity and grade of mineral deposits; the need to obtain additional financing to finance operations and uncertainty as to the availability and terms of future financing; social media and reputation; negative publicity; human rights; business objectives; shortage of personnel; health and safety; the possibility of delay in future plans and uncertainty of meeting anticipated program milestones; claims and legal proceedings; information systems and cyber security; internal controls; violation of anti-bribery or corruption laws; competition; tax considerations; compliance with listing standards; enforcement of civil liabilities; financing requirement risks; market price volatility of Shares; uncertainty as to time availability of approvals and other governmental approvals; the need for exchange approvals and other regulatory approvals and other risk factors which are detailed from time to time in Ascot's filings with Canadian securities regulators, available on Ascot's profile on SEDAR+. www.sedarplus.ca including the Company’s Annual Information Form dated March 24, 2025 in the “Risk Factors” section. Forward-looking statements are based on assumptions made regarding: the completion of the Restructuring; estimated costs associated with care and maintenance plans; the tax rate applicable to the Company; future commodity prices; mineral quality and mineral reserves; increases in labor and materials costs on a basis consistent with the Company's current expectations of the Company's ability to convert inferred mineral resources into other categories; the Company's ability to reduce production dilution; the possibility of reducing capital costs; the Company's ability to attract additional financing; approximate correspondence of currency exchange rates to current levels, compliance with the terms of Ascot loan agreements; exploration plans; and general marketing, political, business and economic conditions. Forward-looking statements are based on management's estimates and opinions as of the date made. Although Ascot believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as Ascot can give no assurance that such expectations will prove to be correct. Ascot undertakes no obligation to update forward-looking statements except as required by applicable law. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.
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