Business
Abcourt Closes a Private Placement of $994,477 in flow-through Shares and Common Units
(via TheNewswire) Rouyn-Noranda, Canada / TheNewswire / December 22, 2017 - Abcourt Mines ...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt Closes a Private Placement of $994,477 in flow-through Shares and Common Units(via TheNewswire)\n \n \nRouyn-Noranda, Canada / TheNewswire / December 22, 2017 - 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 9,343,852 flow-through shares at a price of $0.085 per flow-through share for gross proceeds of $794,227 and a number of 267 Units at a price of $750 per Unit for gross proceeds of $200,250. Each Unit is composed of 10,000 common shares of the Corporation offered at a price of $0.075 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 22, 2019 2019 (the \"Private Placement\").\n\n \n \nTherefore, the Private Placement closed today consists in the sale of 9,343,852 flow-through shares, of 2,670,000 common shares and the issuance of 1,335,000 common share purchase warrants. This represents total gross proceeds of $994,477, of which $794,227 shall be incurred by the Corporation in exploration expenditures on mining properties located in the Province of Quebec. \n\n \n \nIn connection with the Private Placement, finder fees of $27,475 will be paid to arm's length finders on some of the subscriptions. The Corporation has also issued a total of 261,694 non-transferable common share purchase warrants to finders, each warrant and $0.10 being required to purchase one common share of Abcourt until December 22, 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 one (1) Unit (representing 10,000 common shares and 5,000 warrants) and 412,000 flow-through shares. Decochib inc., a private company controlled by Renaud Hinse, has subscribed 750,000 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 16.4% of the Company's common shares issued and outstanding; and\n\n \n \nNormand Hinse, director of Abcourt, has purchased 67 Units (rep...