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Ascot raising C$5M for Canadian exploration expenses

Gold miner Ascot Resources Ltd. is raising C$5 million via an offering of 3,356,000 flow-through common shares at C$1.49 apiece under an agreement with Sprott Capital Partners and Primary Capital Inc.

The company said Feb. 28 that it will use the funds for Canadian exploration expenses.

The offering is expected to close March 22.