Ascot Resources Ltd. (TSX:AOT) agreed to acquire Assay laboratory facility in Stewart, British Columbia from Seacan Labs Corp for CAD 3.5 million on June 28, 2023. Total consideration for the transaction is CAD 3.548587 million consisting of CAD 0.5 million in cash already paid at closing and 5,692,972 Ascot common shares. The shares will be issued to Seacan according to the following schedule: 36.3% or 2,068,837 shares on January 18, 2024, 27.3% or 1,555,298 shares on May 18, 2024, and the remaining 36.3% or 2,068,837 shares on September 18, 2024. A warranty exists for 12 months post closing whereby if any damaged or defective equipment is identified, subject to certain exceptions, a maximum of CAD 200,000 may be recuperated by the company withholding an amount of yet-to-be issued common shares having an equivalent value, based on the market price of the common shares at such time.

Ascot Resources Ltd. (TSX:AOT) completed the acquisition of Assay laboratory facility in Stewart, British Columbia from Seacan Labs Corp on September 19, 2023.