Business
Abcourt Announces Strategic Partnership With Groupe Minier Technica
ROUYN-NORANDA, Quebec, March 03, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“ Abcourt ...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt Announces Strategic Partnership With Groupe Minier Technica\n\n\n\n ROUYN-NORANDA, Quebec, March 03, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“\n \n Abcourt\n \n ” or the “\n \n Company\n \n ”)\n \n (TSX Venture: ABI) (OTCQB: ABMBF)\n \n is pleased to announce that it has entered into a strategic partnership with Groupe Minier Technica (“\n \n Technica\n \n ”), a leading, Canadian-owned mine contractor, pursuant to which Technica acquired 60,000,000 units of the Company (“\n \n Units\n \n ”) at a price of $0.05 per Unit for a total investment of $3,000,000 (the “\n \n Investment\n \n ”).\n \n\n This partnership will play a key role in accelerating Abcourt’s Sleeping Giant Project located in the Abitibi Greenstone Belt in Quebec. Technica will work alongside the project team to complete the underground construction and development work required for future capital expansion. The investment proceeds will also serve to advance the project as well as support general and administrative purposes.\n \n\n\n Pascal Hamelin, Chief Executive Officer and President of Abcourt, states:\n \n “We are extremely happy to partner with Groupe Minier Technica to advance the Sleeping Giant Project. They’re a well-established mining contractor in Canada with a solid health and safety track record.   By combining our skills, we make our project more valuable to all stakeholders.”\n \n\n Each Unit consists of one common share of the Company (a “\n \n Unit Share\n \n ”) and one common share purchase warrant (a “\n \n Warrant\n \n ). Each Warrant entitles its holder to purchase one common share of the Company (a “\n \n Warrant Share\n \n ”) at a price of $0.08 per Warrant Share for a period of 36 months.\n \n\n The Investment is subject to the final approval of the TSX Venture Exchange.\n \n\n The securities issued in connection with the Investment are subject to a statutory hold period of four months and one day under applicable securities laws. These securities have not been, nor will they be, registered under the U.S. Securities Act, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. pers...