Business
Abcourt Closes a Private Placement of $ 838,487 in Flow-Through Shares and Common Units
(via TheNewswire) Rouyn-Noranda, Canada / TheNewswire / December 31, 2018 - Abcourt Mi...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt Closes a Private Placement of $ 838,487 in Flow-Through Shares and Common Units(via TheNewswire)\n\n \nRouyn-Noranda, Canada / TheNewswire / December 31, 2018 - Abcourt Mines Inc. (<< Abcourt >> or the << Corporation >>) (TSX Venture: ABI, Berlin: AML-BE, Frankfurt Stock Exchange : AML-FF) has closed today a non-brokered private placement for a number of 10,264,100 flow-through shares at a price of $0.07 per flow-through share for gross proceeds of $ 718,487 and a number of 200 Units at a price of $600 per Unit for gross proceeds of $ 120,000. Each Unit is composed of 10,000 common shares of the Corporation offered at a price of $0.06 per common share and of 5,000 common share purchase warrants, one warrant and $0.10 being required to purchase one common share of the Corporation until December 31, 2020 (the \"Private Placement\").\n\n \n \nTherefore, the Private Placement closed today consists in the sale of 10,264,100 flow-through shares, of 2,000,000 common shares and the issuance of 1,000,000 common share purchase warrants. This represents total gross proceeds of $ 838,487, of which $ 718,487 shall be incurred by the Corporation in exploration expenditures on exploration mining properties located in the Province of Quebec. \n\n \n \nIn connection with the Private Placement, finder fees of $26,238.75 will be paid to an arm's length finder on some of the subscriptions. The Corporation will also issue 380,768 non-transferable common share purchase warrants to the finder, each warrant and $0.10 being required to purchase one common share of Abcourt until December 31, 2019.\n\n \n \nCertain related parties to Abcourt (the \"Related Parties\") have participated in the Private Placement: \n\n \n \nRenaud Hinse, director and chief executive officer of Abcourt, has purchased 2 Units (representing 20,000 common shares and 10,000 warrants) and 483,000 flow-through shares. Decochib inc., a private company controlled by Renaud Hinse, has subscribed 930,000 flow-through shares; \n\n \n \nNicole Veilleux, director of Abcourt, has purchased 3 Units (representing 30,000 common shares and 15,000 warrants) and 100,000 flow-through shares;\n\n \n \nDaniel Adam, director of Abcourt, has purchased 4 Units (representing 40,000 common shares and 20,000 warrants) and 108,600 flow-through shares.\n\n \n \nThe securities...