Ascot Announces Launch of C$0.01 Rights Offering

VANCOUVER, British Columbia, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSXV: AOT.H; OTCQB: AOTVF) (“Ascot” or the “Company”) announces it is undertaking a rights offering to raise gross proceeds of up to C$14,871,517 (the “Rights Offering”).

Rights Offering

Pursuant to the Rights Offering, the Company will be offering 1,487,151,720 rights (the “Rights”) to certain holders (the “Shareholders”) of common shares in the capital of Ascot (the “Common Shares”) at the close of business on the record date of November 18, 2025 (the “Record Date”) on the basis of one (1) Right for each Common Share held. Each one (1) Right will entitle the holder to subscribe for one (1) Common Share of the Company (a “Rights Share”) at the subscription price of C$0.01 per Rights Share (the “Basic Subscription Privilege”).

The Common Shares are listed on the NEX Board of the TSXV Venture Exchange (“NEX”). The Rights will not be listed on any stock exchange or marketplace.

The Rights will expire at 5:00 p.m. (Toronto time) on December 12, 2025 (the “Expiry Time”), after which time unexercised Rights will be void and of no value. Shareholders who fully exercise their Rights under the Basic Subscription Privilege will be entitled to subscribe pro rata for additional Rights Shares, if available, as a result of unexercised Rights, prior to the Expiry Time (the “Additional Subscription Privilege”), subject to certain limitations as set out in the Company’s Rights Offering circular dated November 7, 2025 (the “Circular”).

In connection with the Rights Offering, the Company has entered into a standby agreement dated October 27, 2025, as amended November 7, 2025, with Fiore Management and Advisory Corp. (“Fiore” or the “Standby Purchaser”), pursuant to which Fiore has agreed to acquire 100% of all outstanding Rights Shares not otherwise acquired under the Rights Offering by Shareholders, including pursuant to the Basic Subscription Privilege and the Additional Subscription Privilege. The Circular will be filed on SEDAR+ under Ascot’s profile at www.sedarplus.ca, along with the Notice of Rights Offering on Form 45-106F14 – Rights Offering Notice for Reporting Issuers (the “Notice”). The Notice, the Rights certificate and subscription form will be mailed to Shareholders in the Eligible Jurisdictions (as defined below) as of the Record Date on or about November 21, 2025. The Company expects to close the Rights Offering on or about December 15, 2025 subject to the requirement of the TSX Venture Exchange (the “TSXV”) that any personal information forms required to be filed in respect of the Rights Offering have been cleared.