Ascendant Resources Inc. (TSX: ASND) has closed the second and final tranche of its non-brokered private placement of the company’s common shares. This follows on from an initial tranche of 14,416,893 common shares a week earlier, issued at a price of C$0.20 for aggregate proceeds of C$2,883,378.60.
This second tranche of 3,143,107 common shares, also at C$0.20, will raise a further C$628,621.40, taking the total issue to 17,560,000 common shares for gross proceeds of C$3,512,000.
The company has stated it will use the net proceeds to advance its Lagoa Salgada project located in Portugal, as well as for working capital and general corporate purposes. As part of the deal, the company will pay finders fees totalling C$28,000.
For further information please visit: https://ascendantresources.com/
