Azincourt increases private placement to $575,000
2023-01-31 17:11 ET – News Release
Mr. Alex Klenman reports
AZINCOURT ENERGY ANNOUNCES INCREASE IN NON-BROKERED FINANCING
Azincourt Energy Corp. has increased the previously announced non-brokered private placement from $500,000 to $575,000.
The Company now proposes to issue up to 9,583,334 units (each, a “Unit”) at a price of $0.06 per Unit for gross proceeds of up to $575,000. Each Unit will be comprised of one common share of the Company (a “Share”) and one-half-of-one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one additional Share at a price of $0.10 per Share for a period of two years from closing of the Offering.
The Offering is scheduled to close on or about February 10, 2023, or such later date as the Company may determine, and is subject to certain conditions including, but not limited to, the receipt of the approval of the TSX Venture Exchange. No finders’ fees or commissions are payable in connection with the Offering.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 Prospectus Exemptions (“NI 45-106”), the Offering is being made to purchasers resident in Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI- 45-106 (the “Listed Issuer Financing Exemption”). The securities offered under the Listed Issuer Financing Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an amended offering document related to the Offering that can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at: www.azincourtenergy.com. Prospective investors should read this offering document before making an investment decision.
The proceeds of the Offering will be used by the Company to advance its primary business objective of continuing exploration and development of the East Preston Project and for general working capital purposes.
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.
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