- Ascendant Resources (ASND) is pleased to announce a non-brokered private placement for gross proceeds of approximately $2 million
- The company intends to issue approximately 8.33 million units at a price of C$0.24 per unit
- Ascendant expects to close the offering on or about October 27, 2021
- Ascendant is a Toronto-based mining company
- Ascendant Resources Inc. (ASND) opened trading at C$0.245 per share
Ascendant Resources (ASND) is pleased to announce a non-brokered private placement for gross proceeds of approximately $2 million.
The company intends to issue approximately 8.33 million units at a price of C$0.24 per unit. Each unit is comprised of one common share and one-half of one common share purchase warrant, Each whole warrant is exercisable to acquire one common share at a price of C$0.40 for a 24-month period following the closing date of the offering.
Ascendant expects to close the offering on or about October 27, 2021, and may elect to close the offering in one or more tranches.
The offering is subject to customary conditions including the approval of the Toronto Stock Exchange, as well as the satisfaction of other customary closing conditions.
Net proceeds will be used to advance the Lagoa Salgada project as well as for working capital and general corporate purposes.
Ascendant is a Toronto-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal.
Ascendant Resources Inc. (ASND) opened trading at C$0.245 per share.