Azincourt Uranium Announces Private Placement

Azincourt Uranium (TSXV:AAZ) has announced its intention to carry out a non-brokered private placement of up to 5 million shares at a price of $0.05 per unit for gross proceeds of up to $250,000.
As quoted in the press release:

Each Unit will consist of one common share and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share for a period of two (2) years at a price of C$0.05 per common share.
The proceeds of the Offering will be used for general working capital purposes.
All securities issued under the Offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.
Closing of this Offering is subject to the receipt of all necessary regulatory approvals including that of the TSX Venture Exchange.

Click here to read the full press release.