Business
Abcourt Announces the Closing of a Private Placement of Units and Flow-Through Shares for a Total of $533,550
(via TheNewswire) Mont-St-Hilaire, Quebec, Canada, / TheNewswire / January 4 , 20...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt Announces the Closing of a Private Placement of Units and Flow-Through Shares for a Total of $533,550(via TheNewswire)\n \n \nMont-St-Hilaire, Quebec, Canada, / TheNewswire / January 4, 2017\n\n \n \nMr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) (\"Abcourt\" or the \"Company\") announces that the Company closed a non-brokered private placement for an amount of $533,550 (the \"Private Placement\"). The Private Placement consisted in the sale of 168 units at a price of $850 each and of 3,907,500 flow-through shares at a price of $0.10 per flow-through share. Each unit is comprised of one Class B share (a \"common share\") of the Company at a price of $0.085 per common share and of one-half common share purchase warrant (a \"Unit\"). Each full warrant will entitle the holder thereof to purchase one common share of the Company at a price of $0.10 over a period of 12 months from the date of closing. The Company will issue a total of 1,680,000 common shares, 3,907,500 flow-through shares and of 840,000 warrants pursuant to the Private Placement.\n\n \n \nThe proceeds from the subscriptions of Units sold pursuant to the Private Placement will be used by the Company to pay the issue expenses and to increase its working capital. The proceeds from the subscriptions of flow-through shares will be used to incur exploration expenses, mainly surface drilling, on mining properties of Abcourt (Aldermac, Harricana, Dormex, etc...). Harricana and Dormex properties are close to the Sleeping Giant Mine.\n\n \n \nCertain related parties to Abcourt (the \"Related Parties\") have participated in the Private Placement:\n\n \n \n\n\n--Mr. Renaud Hinse, director and chief executive officer of Abcourt, has purchased one Unit (representing 10,000 common shares and 5,000 warrants) and 350,000 flow-through shares. Decochib inc., a private company controlled by Renaud Hinse, has subscribed 650,000 flow-through shares. After the Private Placement, assuming the exercise of the warrants included in the units purchased by Renaud Hinse, Renaud Hinse would hold, directly or indirectly, or exercise control over approximately 17.48% of the Company's common shares issued and outstanding. \n\n\n\n \n \n\n\n--Mr. Normand Hinse, director of Abcourt, has purchased 18...