Business
Abcourt Accepts $5.8M Financing Offer from Investissement Québec
ROUYN-NORANDA, Québec, Aug. 22, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it has accepted loan offers totaling $5,800,000 in principal from Investissement Québec, as an agent of the Government of Québec, consisting of a bridge loan of up to $1,300,000 to finance tax credits related to resources for the fiscal year ending June 30, 2025 ("Loan No. 1") and a second bridge loan of up to $4,500,000 to fin
About this update from Abcourt Mines, Inc. Class B
[{"type":"image","alt":"Abcourt Mines Inc.","displaySize":"","headline":null,"caption":"Abcourt Mines Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":217,"height":106,"url":"https://media.zenfs.com/en/globenewswire.com/025db0b3b59c08a6329c667e2837076e"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/EcRDGNJg6.SVgKzvAthdrQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIwNTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/025db0b3b59c08a6329c667e2837076e","width":217,"height":106}},"lazy":false},{"type":"text","content":"ROUYN-NORANDA, Québec, Aug. 22, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it has accepted loan offers totaling $5,800,000 in principal from Investissement Québec, as an agent of the Government of Québec, consisting of a bridge loan of up to $1,300,000 to finance tax credits related to resources for the fiscal year ending June 30, 2025 ("Loan No. 1") and a second bridge loan of up to $4,500,000 to finance tax credits related to resources for the fiscal year ending June 30, 2026 ("Loan No. 2", and together with Loan No. 1, the "Loans").","length":667,"tagName":"p"},{"type":"text","content":"Pascal Hamelin, President and CEO of Abcourt, commented: “We are very pleased to have Investissement Québec as a financial partner in the development of the Sleeping Giant project. This partnership provides significant support to Abcourt during this important phase of the project's development towards commercial production.”","length":330,"tagName":"p"},{"type":"text","content":"The Loans will bear interest at an annual rate equal to the prime rate plus 2.55%, up to December 31, 2026, for Loan No. 1, and up to December 31, 2027, for Loan No. 2. The Loans will be secured by a first-ranking security on refundable tax credits and an irrevocable support letter of credit representing 10% of the Loans (collectively, the "Security"). The Loans will be disbursed upon the execution of the definitive agreements related to the Loans and the Security.","length":479,"tagName":"p"},{"type":"text","content":"ABOUT ABCOURT MINES INC.","length":24,"tagName":"p"},{"type":"text","content":"Abcourt Mines Inc. is a Canadian development company with properties strategically located in northwestern Québec, Cana...