Azincourt Energy Corp. (the “Company” or “Azincourt”) (TSXV:AAZ) announces its intention to carry out a non-brokered private placement of up to 11 million units at a price of C$0.15 per unit for gross proceeds to the Company of up to C$1,650,000 (the “Offering”).
Each unit will consist of one common share and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one additional common share for a period of 12 months at a price of C$0.22 per common share.
Azincourt will apply the net proceeds of the Offering to advance the company’s projects and for general working capital purposes.
In accordance with applicable Canadian securities legislation, all securities issued under the Offering will be subject to a four-month-and-one-day hold period from the date of issuance. The company may pay finders’ fees and/or commissions to eligible persons in connection with the Offering in accordance with the policies of the TSX Venture Exchange.
Closing of this offering is subject to the receipt of all necessary regulatory approvals including that of the TSX Venture Exchange.
About Azincourt Energy Corp.
Azincourt Energy Corp. is a Canadian-based resource company specializing in the strategic acquisition, exploration and development of alternative energy/fuel properties, including uranium, lithium, cobalt, and other elements.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
Alex Klenman, President & CEO
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.
This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially.
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