Ascendant Resources Announces Closing of First Tranche of Private Placement
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Ascendant Resources has closed the first tranche of a private placement to fund the Lagoa Salgada Project and reduce short-term payables. This is part of an arrangement with Cerrado Gold, which plans to acquire all Ascendant shares.
February 11, 2025 | 10:15 pm
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Ascendant Resources has completed the first tranche of a private placement, raising C$2.365 million to fund the Lagoa Salgada Project and reduce short-term payables. This is part of a plan for Cerrado Gold to acquire all Ascendant shares.
The successful closing of the first tranche of the private placement provides Ascendant Resources with necessary funds to progress its project and manage payables, which is positive for the company's financial health. Additionally, the acquisition by Cerrado Gold could lead to a favorable revaluation of Ascendant's shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100