Abcourt Mines Inc. closes successful brokered private placement, raising $5.25 million.

From GlobeNewswire: 2024-12-11 18:41:00

Abcourt Mines Inc. has successfully closed a brokered private placement, raising $5,254,012.55 in gross proceeds. The offering included 12,943,500 Units and 69,878,770 flow-through shares. Each Unit consists of one common share and one warrant to purchase a common share at $0.08 by December 11, 2027. The Offering is subject to final approval from the TSX Venture Exchange.

The Company has decided to withdraw the Offering Document filed on November 4, 2024, and will not proceed with the offering of units under the listed issuer financing exemption. The securities issued are subject to a statutory hold period for Canadian residents. Proceeds from the Offering will be used for exploration of gold projects in Quebec and for working capital purposes.

In a related party transaction, directors of the Company purchased 9,465,000 Units. The Offering was completed under the accredited investor exemption. The securities offered have not been registered under U.S. securities laws and cannot be offered or sold in the United States without registration or an exemption.

Abcourt Mines Inc. is a Canadian exploration company with properties in northwestern Quebec. The company focuses its development activities on the Sleeping Giant mine and mill. For more information, visit the company’s website and view filings under Abcourt’s profile on SEDAR+.

Forward-looking statements in this news release are based on estimates and subject to risks and uncertainties. The Company disclaims any intention to update forward-looking statements. The TSX Venture Exchange does not accept responsibility for the accuracy of this release.



Read more at GlobeNewswire: Abcourt Closes Brokered Private Placement for Gross