Azincourt Energy Announces Increase in Non-Brokered Financing

Azincourt Energy Announces Increase in Non-Brokered Financing

AZINCOURT ENERGY CORP. ("Azincourt" or the "Company") (TSX.V: AAZ, OTC: AZURF), is pleased to announce that it 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.


"Alex Klenman" Alex Klenman,

President & CEO

For further information please contact:

Alex Klenman,

President & CEO

Tel: 604-638-8063


Azincourt Energy Corp.

1430 - 800 West Pender Street Vancouver, BC V6C 2V6


Forward-Looking Statements

This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: statements relating to the successful closing of the Offering and anticipated timing thereof and the intended use of proceeds. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law. TSX Venture Exchange Disclaimer 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.


Click here to connect with AZINCOURT ENERGY CORP. (TSX.V: AAZ, OTC: AZURF), to receive an Investor Presentation

The Conversation (0)
Azincourt Energy: Entering Their Largest Drill Program to Date, CEO Clip Video

Azincourt Energy: Entering Their Largest Drill Program to Date, CEO Clip Video

Azincourt Energy Corp. (TSXV: AAZ) (OTCQB: AZURF Alex Klenman, CEO & President, speaks about the company's East Preston Project and its significant potential.

Azincourt Energy Corp.(TSXV: AAZ) (OTCQB: AZURF)


About CEO Clips:

CEO Clips is the largest library of publicly traded company CEO videos in Canada and the US. These 90 second video profiles broadcast on national TV and online via 12 financial sites including: Thomson Reuters, Bloomberg, Yahoo! Finance and Stockhouse.com.

BTV - Business Television/CEO Clips

Discover Companies to Invest in


Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109196

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

InvestmentPitch Media Video Discusses Azincourt Energy's 2021 Winter Exploration Program on its East Preston Uranium Project in Western Athabasca Basin - Video Available on Investmentpitch.com

Azincourt Energy (TSXV: AAZ) (OTC Pink: AZURF) (FSE: A0U2) has mobilized a drill rig and crew to begin the 2021 winter exploration program on its East Preston uranium project. The company recently completed the acquisition of a 70% interest in the 25,000+ hectare East Preston uranium project located in the western Athabasca basin in Saskatchewan, Canada. The project, one of the largest tenure land positions in the Patterson Lake region, is strategically located near NexGen Energy's high-grade Arrow deposit, Fission Uranium's Triple R deposit and the AREVACamecoPurepoint joint venture.

For more information, please view the InvestmentPitch Media "video" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Azincourt" in the search box.

Azincourt previously had an option to acquire its 70% interest through an agreement with Skyharbour Resources Ltd. and Dixie Gold Inc. with both companies now holding 15%. To earn its majority interest, Azincourt completed $2.5 million in staged exploration expenditures and paid a total of $1 million in cash payments over the previous four years.

Multiple prospective conductive, low magnetic signature corridors have been discovered on the property.

These distinct corridors have a total strike length of more than 25 kilometers, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.

The 2021 exploration program will be a minimum of 10 to 12 diamond drill holes, totalling 2,000 to 2,500 meters and is expected to begin this weekend, with drilling starting in the AB-Zone and continuing southwest along the G-Zone. Drilling in the A zone suggests this structural corridor hosts significant graphitic packages within strongly sheared and faulted host lithologies, indicating an environment conducive to fluid movement and uranium deposition.

The program is based on a compilation of results from the 2019 and 2020 drill programs, 2018 through 2020 ground-based EM and gravity surveys, and property wide VTEM and magnetic surveys. The 2020 HLEM survey completed in December indicates multiple prospective conductors and structural complexity along the eastern edge of this corridor.

Alex Klenman, President and CEO, stated: "Naturally, we're eager to get the drill program underway. The most exciting part of what we do is drilling. We're only 12 holes into East Preston, and to date the data generated is suggesting we're getting closer to a potential discovery. The data is strong, and it is reflected through multiple exploration activities that essentially stack on top of one another. This coincidental layering creates very strong targets. We have dozens of targets to test, we're really only scratching the surface."

Azincourt is also developing the Escalera Group which consists of three concessions covering a combined area of 7,400 hectares of prospective exploration targets for uranium and lithium in the Puno district of southeastern Peru.

For more information, please visit the company's website www.AzincourtEnergy.com, contact Alex Klenman, President & CEO, at 604-638-8063 or email info@AzincourtEnergy.com.

About InvestmentPitch Media

Investmentpitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

InvestmentPitch Media
Barry Morgan, CFO

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75313

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Azincourt Energy Announces First Tranche Closing of $887,500 and Additional Flow Through Private Placement

Azincourt Energy Corp. (TSXV: AAZ) ("Azincourt" or the "Company"), is pleased to announce that it has closed on $887,500 being the first tranche of a non-brokered private placement of units (each a "Unit") to raise gross proceeds of up to $1,500,000 and, due to strong market interest, it has elected to conduct an additional offering of flow through units (each, a "FT Unit") for gross proceeds of $100,000 (the "Offering").

Each Unit and FT Unit is comprised of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share for 5 years at a price of $0.07 per common share.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Azincourt Energy Closes Fully-Subscribed Flow-Through Offering

 Azincourt Energy Corp. (TSXV: AAZ) ("Azincourt" or the "Company") is pleased to announce that it has completed the offering of 30,000,000 flow-through units (each, an "FT Unit") 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 (each, a "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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Azincourt Energy Announces Grant of Incentive Stock Options

Azincourt Energy Corp. (TSXV: AAZ) (OTC: AZURF) ("Azincourt" or the "Company") announces it has granted an aggregate of 7,250,000 incentive stock options to directors, officers and consultants of the Company, subject to TSX Venture Exchange acceptance. Each option is exercisable to purchase one common share of the Company until January 5, 2026 at a price of C$0.05 per common share in accordance with the terms of the Company's stock option plan.

About Azincourt Energy Corp.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
nuclear reactors

Small Modular Reactors Spark Interest as Nuclear Energy and Uranium Gain Stea​m

As nuclear energy and uranium continue to attract renewed attention from both investors and the general public, technological advances are bringing small modular reactors (SMRs) to the forefront.

SMRs vary in size and power, but are essentially smaller-scale versions of traditional nuclear reactors. Although it's still early days, they've been praised by industry insiders for various reasons, including their size and relative simplicity.

During the latest Prospectors & Developers Association of Canada (PDAC) convention, several uranium companies and expert voices highlighted SMRs as a key component of the market moving forward. They also discussed the moment nuclear energy is having in the eyes of investors, and shared their thoughts on what’s needed to move the industry forward.

Keep reading...Show less
curtis moore, nuclear reactors

Energy Fuels: Uranium, Rare Earths in Strong Position, Secure Supply Needed

As the energy transition gains steam, uranium and rare earths are at the top of the list when it comes to securing supply.

Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) is a US producer of both of these materials, and Curtis Moore, the company's senior vice president of marketing and corporate development, said output is in the process of ramping up.

Speaking first about uranium, he explained that Energy Fuels recently signed several contracts with US utilities; it also sold US$18.5 million worth of uranium to the American government's strategic uranium reserve.

Keep reading...Show less
GTI Energy

Non-Renounceable Entitlement Offer Cleansing Notice Under Section 708AA(2)(F) Of The Corporations Act 2001 (CTH)

The Directors of GTI Energy Ltd (ASX: GTR, GTR or the Company) give notice under section 708AA(2)(f) of the Corporations Act 2001 (Cth) (Corporations Act).

Keep reading...Show less
Aura Energy

Interim Financial Report - 31 December 2022

Aura Energy Limited (ASX:AEE, AIM:AURA) is pleased to present its Half Year Report.

Keep reading...Show less
GTI Energy

Fully Underwritten Rights Issue

GTI Energy Ltd (GTI or Company) is pleased to advise that existing shareholders, on the record date, will be offered the opportunity to participate in a non-renounceable pro-rata rights entitlement offer of 150,548,357 Shares on a 1 for 10 basis at an issue price of $0.009 per Share, to raise $1,354,935 before costs, with 1 free attaching GTRO option for every 2 Shares subscribed (Entitlements Offer Option) (Entitlements Offer or Offer).

Keep reading...Show less
byron king, graphite lattice

Byron King: Today's Mining Bargains Could Create "Life-changing Wealth"

Diverse mining stocks are trading at discounted prices, but a new era of resource scarcity could change that.

Speaking to the Investing News Network, Byron King of Paradigm Press said that supply of many metals won't be able to keep up with growing demand. Eventually prices for both commodities and company shares will be squeezed higher.

"When just a little bit of that money that's invested in all these tech-y things and all these biotech-y things and all these other things that buoy the rest of the big market — when just a fraction of that starts to trickle over into the hard asset space, the mining space, you're going to see astonishing rocket rides with many, many companies," he commented.

Keep reading...Show less

Latest Press Releases

Related News