It is intended that the post-consolidation shares will trade on NEX Board (the “ NEX “) of the TSX Venture Exchange (the ” TSX-V “) on the market open on December 16, 2025, under the existing symbol “AOT.H”. After the consolidation, the new CUSIP number for the common shares will be 04364G783 and the new ISIN number will be CA04364G7839. There will be no name change in connection with the consolidation.
As a result of the Consolidation, no fractional shares will be issued. Any fractional interest in shares resulting from the Consolidation that is less than 0.5 of a common share will be rounded down to the nearest whole share, and any fractional interest in common shares arising from the Consolidation that is 0.5 or more of a common share will be rounded up to the nearest whole share. In all other respects, the post-consolidation shares will have the same characteristics as the pre-consolidation shares. Following the consolidation, the Company’s 1,487,580,162 common shares currently issued and outstanding will amount to approximately 29,751,603 common shares issued and outstanding, excluding the closing of a rights offering on a pre-consolidated basis.
The exercise or conversion price and the number of shares of common stock issuable under the Company’s outstanding warrants, stock options and convertible notes, as applicable, will be adjusted proportionally to reflect the Consolidation in accordance with their respective terms.
The consolidation was approved by the shareholders of the Company in accordance with section 7.1 of Policy 5.8— Issuer names, issuer name changes, consolidations and stock splits and by the board of directors of the company in accordance with the Business Corporations Act ( British Columbia ) and the company’s articles of association.
The company’s transfer agent, Computershare Investor Services Inc. (” Computer share “), will send a letter of transmittal to registered shareholders of the Company with instructions for exchanging pre-consolidation share certificates for post-consolidation share certificates or Direct Registration System (DRS) advisories. Shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Computershare in accordance with the instructions in the transmittal letter. Until surrendered, each share certificate (or DRS advisory) representing pre-consolidation shares will be deemed to be the number of whole shares. Post-consolidation shares to which the shareholder is entitled as a result of the consolidation.
The consolidation remains subject to final approval by the TSX-V. Additional details regarding the consolidation can be found in the Company’s press release dated October 23, 2025, available under the Company’s profile on SEDAR+ at www.sedarplus.ca .
The TSX-V has neither approved nor disapproved the contents of this press release. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Board of Directors of Ascot Resources Ltd.
James A. (Jim) Currie
CEO and director
For more information please contact:
Email: info@ascotgold.com
Phone: 778-725-1060
About Ascot
Ascot is a Canadian mining company headquartered in Vancouver, British Columbia, and its shares trade on the NEX under the ticker AOT.H and on the OTCID under the ticker AOTVF. Ascot is the 100% owner of the Premier Gold Mine located in the Nisga’a Nation Treaty Lands, in the fertile Golden Triangle of northwestern British Columbia.
For more information about the company, please view the company profile on SEDAR+ at www.sedarplus.ca or visit the company’s website at www.ascotgold.com.
Cautionary Note Regarding Forward-Looking Information
Any statements and other information in this press release regarding anticipated future events may constitute forward-looking information under Canadian securities laws (” forward-looking statements “). Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “target”, “outlook”, “on track” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, “would” or “could” be achieved and other similar expressions. All statements, other than statements of historical fact, contained herein are forward-looking statements, including statements regarding the terms of the Consolidation; estimating the costs of completing the consolidation; risks related to negative operating cash flows of the company; the need to obtain additional financing to finance operations and uncertainty as to the availability and terms of future financing; social media and reputation; negative publicity; human rights; business objectives; shortage of personnel; health and safety; the possibility of delay in future plans and uncertainty of meeting anticipated program milestones; claims and legal proceedings; information systems and cyber security; internal controls; violation of anti-bribery or corruption laws; competition; tax considerations; compliance with listing standards; enforcement of civil liabilities; financing requirement risks; market price volatility of common shares; uncertainty met betrekking tot de tijdige beschikbaarheid van vergunningen en andere overheidsgoedkeuringen, en andere wettelijke goedkeuringen en other risk factors, as described from time to time in Ascot’s filings with Canadian securities regulators, available on Ascot’s profile on SEDAR+ on SEDAR+. www.sedarplus.ca including the Company’s annual information form dated March 24, 2025 in the section entitled “Risk Factors”. Forward-looking statements are based on assumptions regarding: the completion of a rights offering below certain thresholds, including the estimated costs thereof; the estimated costs associated with the care and maintenance plans; the tax rate applicable to the Company; future commodity prices; the quality of mineral resources and mineral reserves; labor and material costs increase on a basis consistent with the Company’s current expectations, the Company’s ability to convert inferred mineral resources to other categories; the Company’s ability to reduce mining dilution; the ability to reduce capital costs; the Company’s ability to raise additional financing; exchange rates approximately consistent with current levels, compliance with covenants in Ascot’s credit agreements; exploration plans; and general marketing, political, business and economic conditions. Forward-looking statements are based on management’s estimates and opinions as of the date the statements are made. Although Ascot believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as Ascot can give no assurance that such expectations will prove to be correct. Ascot undertakes no obligation to update any forward-looking statements, except as required by applicable law. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.
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