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Abcourt Mines Inc. (" Abcourt " or the " Company ") (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it has entered into a strategic partnership with Groupe Minier Technica (" Technica "), a leading, Canadian-owned mine contractor, pursuant to which Technica acquired 60,000,000 units of the Company (" Units ") at a price of $0.05 per Unit for a total investment of $3,000,000 (the " Investment ").
This partnership will play a key role in accelerating Abcourt's Sleeping Giant Project located in the Abitibi Greenstone Belt in Quebec. Technica will work alongside the project team to complete the underground construction and development work required for future capital expansion. The investment proceeds will also serve to advance the project as well as support general and administrative purposes.
Pascal Hamelin, Chief Executive Officer and President of Abcourt, states: "We are extremely happy to partner with Groupe Minier Technica to advance the Sleeping Giant Project. They're a well-established mining contractor in Canada with a solid health and safety track record. By combining our skills, we make our project more valuable to all stakeholders."
Each Unit consists of one common share of the Company (a " Unit Share ") and one common share purchase warrant (a " Warrant ). Each Warrant entitles its holder to purchase one common share of the Company (a " Warrant Share ") at a price of $0.08 per Warrant Share for a period of 36 months.
The Investment is subject to the final approval of the TSX Venture Exchange.
The securities issued in connection with the Investment are subject to a statutory hold period of four months and one day under applicable securities laws. These securities 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 GROUPE MINIER TECHNICA
Groupe Minier Technica, the Quebec branch of Technica Mining, was established in 2019, bringing decades of mining contracting expertise to the province. Based in Val-d'Or, QC, Technica provides fully integrated mining solutions, including underground development, construction, raise boring, surface mining, engineering, and maintenance. Committed to safety, innovation, and operational efficiency, Technica has expanded rapidly, partnering with clients across Quebec.
ABOUT Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill and the Flordin property, where it focuses its exploration and development activities.
For more information about Abcourt Mines Inc., please visit our website at www.abcourt.ca and view our filings under Abcourt's profile on www.sedarplus.ca
| Pascal Hamelin President and CEO T : (819) 768-2857 Email: phamelin@abcourt.com | Dany Cenac Robert, Investor Relations Reseau ProMarket Inc. T : (514) 722-2276, poste 456 Email : dany.cenac-robert@reseaupromarket.com |
FORWARD-LOOKING STATEMENTS
Certain information contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by using forward-looking terminology, such as "plans", "aims", "expects", "projects", "intends", "anticipates", "estimates", "could", "should", "likely", or variations of such words and phrases or statements specifying that certain acts, events or results "may", "should", "will" or "be achieved" or other similar expressions. Forward-looking statements are based on Abcourt's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business, economic and uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt's public filings, which are available on SEDAR at www.sedarplus.ca . There can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on such statements. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
