Azincourt Energy Corp. Secures First Tranche in Private Placement Deal
Azincourt Energy Corp. Secures Funding Through Private Placement
Overview of the Private Placement
Azincourt Energy Corp. (TSXV: AAZ), based in Vancouver, British Columbia, has successfully completed the first tranche of its non-brokered private placement. This offering includes 35,329,931 non-flow-through units (NFT Units) and 13,999,997 flow-through units (FT Units), each priced at C$0.015. The total gross proceeds from this initiative amount to C$739,948.96.
Details of the Units Offered
Each NFT Unit consists of one common share and a common share purchase warrant, while each FT Unit includes one flow-through common share and a corresponding warrant. The warrants can be exercised at a price of C$0.05 for a period extending until July 15, 2028.
Allocation of Proceeds
The funds raised will primarily support drilling, exploration, and development activities for Azincourt’s Snegamook and Harrier Projects, located in the Central Mineral Belt of Newfoundland and Labrador. Additionally, the proceeds will be allocated for general working capital purposes. Importantly, these funds will not be utilized for payments to non-arms length parties or for investor relations activities.
Finder’s Fees and Warrants
In conjunction with the closing of this placement, the company has paid cash finders’ fees totaling C$44,895 and issued 2,993,000 Finders Warrants. These warrants are also exercisable at C$0.05 for a three-year term from the date of issuance. The securities issued in this offering are subject to a hold period under Canadian securities laws, which will expire four months and one day after July 15, 2025, pending necessary approvals from the TSX Venture Exchange.
Flow-Through Shares and Tax Implications
The FT Shares qualify as “flow-through shares” under the Income Tax Act (Canada). The gross proceeds from these shares will be directed toward eligible resource exploration expenses, which will be classified as Canadian exploration expenses and flow-through critical mineral mining expenditures. The company commits to incurring qualifying expenditures that match or exceed the gross proceeds from the FT Shares by December 31, 2026, with renouncement to the initial purchasers by no later than December 31, 2025.
Regulatory Compliance and Restrictions
This announcement does not serve as an offer to sell or solicit offers to purchase any securities within the United States. The securities have not been registered under the U.S. Securities Act of 1933 or any state laws and cannot be sold in the U.S. or to U.S. Persons unless properly registered or an exemption is available.
About Azincourt Energy Corp.
Azincourt Energy Corp. is a Canadian resource company focused on the strategic acquisition, exploration, and development of alternative energy projects, including uranium, lithium, and other critical clean energy resources. The company is actively engaged in its East Preston uranium project in Saskatchewan, as well as its Snegamook and Harrier uranium projects in Labrador.
Leadership Statement
On behalf of the board, Alex Klenman, President and CEO of Azincourt Energy Corp., expresses enthusiasm for the funding secured through this private placement and its potential to advance the company’s projects.
Cautionary Note on Forward-Looking Statements
This announcement contains forward-looking statements that reflect the company’s expectations and projections as of the date of release. These statements are subject to various risks and uncertainties that could lead to actual results differing significantly from those anticipated. Factors influencing these outcomes include market conditions, exploration success, and regulatory approvals.
Conclusion
Readers are encouraged to consider the forward-looking statements with caution and not to place undue reliance on them. The company disclaims any obligation to update these statements unless required by applicable securities laws.
For more information, please visit Azincourt Energy Corp.’s website.
