Business
Abcourt Announces a Non-Brokered Private Placement for Up to $3.0 Million
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt Announces a Non-Brokered Private Placement for Up to $3.0 Million\n\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n\n ROUYN-NORANDA, Quebec, March 24, 2025 (GLOBE NEWSWIRE) --\n \n Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI)\n \n is pleased to announce a non-brokered private placement of a combination of a maximum of 60,000,000 units of the Corporation (each, a “\n \n Unit\n \n ”) at a price of $0.05 per Unit and a maximum of 50,000,000 common shares of the Corporation that qualify as “flow-through shares” within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (Canada) and section 359.1 of the\n \n Taxation Act\n \n (Québec) (each, a “\n \n FT Share\n \n ”) at a price of $0.06 per FT Share, for aggregate gross proceeds of up to $3,000,000 (the “\n \n Private Placement\n \n ”).\n \n\n It is expected that the proceeds from the Private Placement will be used to advance activities for development and exploration at the Sleeping Giant and Flordin gold projects in the Abitibi Greenstone belt of Quebec.\n \n\n Each Unit will consist of one common share of the Corporation (a “\n \n Common Share\n \n ”) and one common share purchase warrant (a “\n \n Warrant\n \n ”). Each Warrant will entitle its holder to purchase one Common Share at a price of $0.08 for a period of 36 months following the closing date of the Private Placement (the “\n \n Closing Date\n \n ”).\n \n\n In the event that, during the period ranging between 12 months and 36 months following the Closing Date, the volume-weighted average trading price of the Common Shares exceeds $0.12 per Common Share for any period of 20 consecutive trading days, the Corporation may, at its option, following such 20-day period, accelerate the expiry date of the Warrants by delivery of notice to the registered holders (an \"\n \n Acceleration Notice\n \n \") thereof and issuing a press release (a \"\n \n Warrant Acceleration Press Release\n \n \"), and, in such case, the expiry date of the Warrants shall be deemed to be 5:00 p.m. (Montreal time) on the 30\n \n th\n \n day following the later of (i) the date on which the Acceleration Notice is sent ...