The Prospector News

Abcourt Closes Initial Tranche Non-Brokered Private Placement for Gross Proceeds of $1,668,040

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Abcourt Closes Initial Tranche Non-Brokered Private Placement for Gross Proceeds of $1,668,040

 

 

 

 

 

Abcourt Mines Inc. (TSX-V: ABI) (OTCQB: ABMBF) is pleased to announce that it has closed a first tranche of its previously announced non-brokered private, for gross proceeds of $1,668,040 from the sale of the following:

  • 2,300,000 units of the Corporation at a price of $0.05 per Unit for gross proceeds $115,000 from the sale of Units; and
  • 25,884,000 common shares of the Corporation that qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec) at a price of $0.06 per FT Share for gross proceeds of $1,553,040 from the sale of FT Shares.

 

Each Unit consists of one common share of the Corporation and one common share purchase warrant. Each Warrant entitles its holder to purchase one common share of the Corporation at a price of $0.08 per Warrant Share at any time on or before April 3, 2028, subject to acceleration in certain circumstances.

 

The Corporation intends to use the proceeds of the Offering for the exploration and advancement of the Corporation’s Flordin and Sleeping Giant gold projects, which are located in the Abitibi Greenstone Belt in Québec, as well as for working capital purposes and general corporate purposes.

 

In connection with the Offering, the Corporation paid finder’s fees of $1,051,20 in cash and $91,051.20 in common shares at a deemed value of $0.05 per common share, and issued 1,535,040 Warrants to arm’s length third parties who assisted the Corporation by introducing subscribers to the Offering.

 

All securities issued under the Offering are subject to a statutory hold period ending on the date that is four months plus one day following the closing date of the Offering. The Offering remains subject to the final approval of the TSX Venture Exchange.

 

The securities offered have not been, nor will they be, registered under the U.S. Securities Act, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

 

ABOUT ABCOURT MINES INC.

 

Abcourt Mines Inc. is a Canadian exploration company with properties strategically located in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mine and mill, as well as the Flordin property, where it focuses its development activities.

 

Posted April 4, 2025

Share this news article

MORE or "UNCATEGORIZED"


Electra Closes First Tranche of Oversubscribed Private Placement

Electra Battery Materials Corporation (NASDAQ: ELBM) (TSX-V: ELBM... READ MORE

April 4, 2025

Gold Resource Corporation Announces 2024 Drill Results

New Vein System With Higher Grades Adds to Future Potential   Go... READ MORE

April 4, 2025

Alamos Gold Announces the Sale of Quartz Mountain Gold Project for Total Consideration of up to $21 million and 9.9% Equity in Q-Gold Resources

Alamos Gold Inc. (TSX:AGI) (NYSE:AGI) announced that it has entered into... READ MORE

April 4, 2025

Viva Gold Announces Closing of $1.6 Million Private Placement Offering

Viva Gold Corp. (TSX-V: VAU) is pleased to announce that it has c... READ MORE

April 4, 2025

Copyright 2025 The Prospector News