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Abcourt Accepts $5.8M Financing Offer from Investissement Québec
ROUYN-NORANDA, Québec, Aug. 22, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“ Abco...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt Accepts $5.8M Financing Offer from Investissement Québec\n\n\n\n ROUYN-NORANDA, Québec, Aug. 22, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“\n \n Abcourt\n \n ” or the “\n \n Corporation\n \n ”)\n \n (TSX Venture: ABI) (OTCQB: ABMBF)\n \n 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 (\"\n \n Loan No. 1\n \n \") 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 (\"\n \n Loan No. 2\n \n \", and together with Loan No. 1, the \"\n \n Loans\n \n \").\n \n\n 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.”\n \n\n 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 \"\n \n Security\n \n \"). The Loans will be disbursed upon the execution of the definitive agreements related to the Loans and the Security.\n \n\n\n\n ABOUT ABCOURT MINES INC.\n \n\n\n\n Abcourt Mines Inc. is a Canadian development company with properties strategically located in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mine and mill, as well as the Flordin property, where it focuses its development activities.\n \n\n For more information about Abcourt Mines Inc., please visit our website at\n \n www.abcourt.ca\n \n and view our filings under Abcourt's profile on\n \n www.sedarplus.ca\n \n .\n \n\n\n\n\n Pascal Hamelin\n \n\n\n\n Dany Cenac Robert, Investor Relations\n \n\n\n\n\n\n President and CEO\n \n\n\n\n Reseau ProMarket Inc.\n \n\n\n\n\n T : (819) 768-2857\n \n\n T : (514)&...