The Prospector News

Azincourt Energy Closes Fully-Subscribed Flow-Through Offering

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Azincourt Energy Closes Fully-Subscribed Flow-Through Offering

 

 

 

 

 

AZINCOURT ENERGY CORP. (TSX-V: AAZ) is pleased to announce that it has completed the offering of 30,000,000 flow-through units by way of non-brokered private placement at a price of $0.05 per FT Unit for gross proceeds of $1,500,000. Each “FT Unit” is comprised of one common share and one common share purchase warrant exercisable to acquire an additional common share at a price of $0.07 until January 19, 2026. The placement was fully-subscribed and included participation from a significant institutional investor.

 

The gross proceeds from the placement will be used to fund Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)) which shall qualify as “flow-through mining expenditures”, for the purposes of the Income Tax Act (Canada). It is anticipated that expenditures will largely be focused on continuation of the Company’s ongoing diamond drilling program at the East Preston Uranium Project, located in the western Athabasca basin, Saskatchewan, Canada.

 

In connection with the placement, the Company issued 2,240,896 common shares and 2,240,896 Warrants to certain arms-length finders who have assisted in introducing subscribers to the Company. All securities issued in connection with the placement are subject to a statutory hold period until May 20, 2021 in accordance with applicable securities laws.

 

About Azincourt Energy Corp.

 

Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.

 

Posted January 20, 2021

Share this news article

MORE or "UNCATEGORIZED"


Energy Fuels Announces Q2-2021 Results, Including Robust Balance Sheet, Market Leading U.S. Uranium and Vanadium Position & Launch of U.S. Commercial Rare Earth Production; Webcast on August 3, 2021

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) reported its f... READ MORE

August 2, 2021

Wealth Closes Final Tranche of Strategic Investment for Total of $3,036,000

Wealth Minerals Ltd. (TSX-V: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FS... READ MORE

August 2, 2021

Blue Sky Uranium Closes Final Tranche of Non-Brokered Private Placement

Blue Sky Uranium Corp. (TSX-V: BSK) (FSE: MAL2) (OTC: BKUCF) is p... READ MORE

August 2, 2021

Thor Explorations Announces First Gold Pour at Its Segilola Gold Mine in Nigeria

Thor Explorations Ltd. (TSX-V: THX) (AIM: THX) is pleased to anno... READ MORE

July 30, 2021

Goliath Drills 67.1 Meters of Quartz-Sulphide Veining, Brecciation and Associated Alteration in Fourth Drill Hole (GD21-004) at the Surebet Zone, Golden Triangle B.C.

One hundred percent of the drill holes completed to date have int... READ MORE

July 30, 2021

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2021 The Prospector News