Abcourt reports first closing of non-brokered private placement

President and C.E.O. of Abcourt Mines Inc., Mr. Renaud Hinse reports closing of a non-brokered private placement.

This involves flow-through and non-flow-through shares in variable amounts. So far, subscriptions for 1,644,000 flow-through shares and non-flow-through shares have been received for a total amount of $411,000. Each share is accompanied by a warrant giving the right to subscribe to one common share at $0.30 over a period of 24 months. The final closing of this placement will be on September 15, 2008 at the latest.

The Company reports that the net proceeds of the private placement:

will be used for exploration projects on the Aldermac and Elder properties and for working capital.

For full details of this press release, click this link. To view Abcourt Mines’ company profile, click here. Follow developments in silver mining and exploration for free. Sign on to the Silver Investing Newsletter.