2024-07-16 09:28 ET - News Release
Mr. Pascal Hamelin reports
ABCOURT ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT FOR UP TO $4.5 MILLION
Abcourt Mines Inc. has arranged a non-brokered private placement of up to 112.5 million units of the corporation at a price of four cents per unit for aggregate gross proceeds of up to $4.5-million.
Each unit will consist of one common share of the corporation and one common share purchase warrant. Each warrant will entitle its holder to purchase one common share at a price of six cents for a period of 36 months following the closing date of the private placement.
It is expected that the net proceeds from the private placement will be used to advance activities for development and exploration at the Sleeping Giant gold project in the Abitibi greenstone belt of Quebec.
The private placement is expected to close on or about July 22, 2024, and remains subject to the approval of the TSX Venture Exchange.
All securities issued in connection with the private placement will be subject to a restricted period ending on the date that is four months and one day following the date of their issuance.
About Abcourt Mines Inc.
Abcourt Mines is a Canadian exploration corporation with strategically located properties in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mill and mine, where it concentrates its activities.