Under the Second Tranche, the Company has issued 15,817,625 common shares of the Company ('Shares') at a price of
The Company intends to use the proceeds from the Offering to complete an optimized feasibility study report focused on improved metallurgy and mine sequencing in Q2/2024, progressing project financing and for working capital and general corporate purposes.
Insiders of the Company subscribed for 3,375,000 common shares at the Offering Price for gross proceeds of
Securities issued in connection with the Offering to persons subject to Canadian securities laws are subject to a hold period of four months and one day in accordance with applicable securities legislation. Certain other securities were issued to persons in offshore jurisdictions pursuant to Ontario Securities Commission Rule 72-503 - Distributions Outside Canada and such securities are not subject to a statutory hold period.
The Shares being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in
About
Located just 80km from
Ascendant holds an 80% interest in the Lagoa Salgada project through its position in
Contact:
Tel: +1-647-805-5662
Email: mmcallister@ascendantresources.com
Forward Looking Information
This press release contains statements that constitute 'forward-looking information' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements contained in this press release include, without limitation, statements regarding the business, the Lagoa Salgada project and timing of completion of studies. In making the forward- looking statements contained in this press release, Ascendant has made certain assumptions. Although Ascendant believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Ascendant disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading 'Risks Factors' in the Company's Annual Information Form dated
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