Ascot private placement terms still undetermined

Executive Summary

• Ascot Resources Ltd. confirms it has not reached an agreement on the terms of its previously announced $150-million private placement and secured creditor restructuring.
• The company’s stock was halted on November 28, 2025, pending this announcement, but no new terms or pricing have been finalized.
• Due to the failure to secure the restructuring, the company faces a liquidity crisis, with cash reserves of $1.9 million as of December 1, 2025, sufficient only until mid-December.

Key Details

• Restructuring Status: The company continues to pursue the transactions disclosed on October 23, 2025, but has not come to terms on pricing or structure.
• Trading Halt: Stock was halted on November 28, 2025, in anticipation of announcing terms for the $150-million private placement and secured creditor restructuring.
• Liquidity Position: Cash position was $1.9 million as of December 1, 2025.
• Runway: The company expects to have sufficient funds to sustain current operations only until mid-December 2025.
• Potential Alternatives: If the private placement is not completed, Ascot may need to initiate proceedings under the Companies' Creditors Arrangement Act (CCAA). There is no certainty that such alternatives will be available.
• Transaction Details (Unfinalized): The structure and pricing of the proposed $150-million private placement remain undetermined.

Notable Quotes

• None provided in the text.