01:24 PM EDT, 05/29/2024 (MT Newswires) -- Ascot Resources ( AOTVF ) on Wednesday said it raised $1 million as it closed the initial tranche of a private placement of flow-through shares.

The company said it placed 1.2-million tax-advantaged shares in the tranche.

The funds will be used to fund the 2024 exploration program at the company's Premier Gold Project in British Columbia's Golden Triangle.

The final tranche of the placement is expected to close by June 14.

Ascot shares were last seen up $0.03 to $0.76 on the Toronto Stock Exchange.

Price: 0.76, Change: +0.03, Percent Change: +4.11