INVESTIGATION ALERT: Berger Montague is Investigating Securities Fraud Claims on Behalf of ASCOT RESOURCES LTD. (AOT.TO; AOTVF; BHQ.F; BHQ.DU; BHQ.MU) Investors
Ascot, headquartered in Vancouver, BC, engages in the exploration and development of mineral properties in the United States and Canada. Its main asset is known as the Premier Gold Project ("PGP") in Western Canada.
Between January 22 and September 5, 2024, AOT reported that after its February 22, 2024 offering of securities that it would be fully-funded to complete the construction of the PGP Project, progress through the ramp-up phase to commercial production and "steady state operations." The Company also reported that commercial production was anticipated to happen during Q3 2024, and as a result it would be self-funded for at least twelve months out.
On September 6, 2024, the Company abruptly reversed course on its plans for the PGP mine, reporting multiple operational issues and suspending all operations until additional capital was raised.
Following these revelations, the price of Ascot securities suffered substantial declines on abnormally high volume.
Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE. The Firm has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States and Canada.
Contacts:
Andrew Morganti, Shareholder
(647) 576-7840 ext. 101
[email protected]
Andrew Abramowitz, Senior Counsel
(215) 875-3015
[email protected]
SOURCE Berger Montague
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