/EINPresswire.com/ -- VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 16, 2016) - Ascot Resources Ltd. (the "Company") (TSX VENTURE:AOT) is pleased to announce that, further to its press release dated November 23, 2016, it has closed the brokered private placement of 4,000,997 flow-through common shares (the "FT Shares") at a price of $2.25 per FT Share for gross proceeds of $9,002,243.25 (the "Offering"). A portion of the Offering was conducted on a guaranteed basis, with the remainder conducted on a reasonable commercial efforts agency basis, in each case by a syndicate of agents lead by Primary Capital Inc. and including Red Cloud Klondike Strike Inc. (the "Agents").

In connection with the Offering, the Agents received an aggregate cash commission equal to 6.0% of the gross proceeds raised under the Offering.

All securities issued pursuant to the Offering are subject to a statutory hold period expiring on April 17, 2017.

The proceeds from the Offering will be used for exploration of the Company's Canadian properties.

For more information concerning the Company, please refer to the Company's profile on the SEDAR website at www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF ASCOT RESOURCES LTD.

John A. Toffan, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Statement Regarding Forward-Looking Information

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the anticipated use of proceeds of the Offering, are forward-looking statements. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Ascot's expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Ascot does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.