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Ascot Resources raises C$9M to fund exploration programs

Ascot Resources Ltd. raised about C$9.0 million from a previously announced, brokered private placement of flow-through common shares.

The offering comprised 4,000,997 flow-through shares at C$2.25 apiece, the company said in a Dec. 16 release.

Ascot initially planned to raise at least C$6.2 million.

Proceeds from the placement will be earmarked for the exploration of the company's Canadian properties.