Business
Abcourt Closes $10 Million Brokered Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. ROUY...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt Closes $10 Million Brokered Private Placement\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.\n \n\n\n ROUYN-NORANDA, Quebec, Oct. 31, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“\n \n Abcourt\n \n ” or the “\n \n Corporation\n \n ”)\n \n (TSX Venture: ABI) (OTCQB: ABMBF)\n \n is pleased to announce that it has closed its previously announced brokered “best efforts” private placement (the “\n \n Offering\n \n ”) conducted by Red Cloud Securities Inc., as lead agent and sole bookrunner (the “\n \n Agent\n \n ”), for aggregate gross proceeds of approximately $10,000,000 through the sale of (i) 41,666,666 flow-through units of the Corporation sold to charitable purchasers (each, a “\n \n Charity FT Unit\n \n ”) at a price of $0.12 per Charity FT Unit; and (ii) 58,823,530 units of the Corporation (each a “\n \n Unit\n \n ”) at a price of $0.085 per Unit (the “\n \n Unit Price\n \n ”).\n \n\n Each Charity FT Unit consists of one class “B” share of the Corporation (each, a “\n \n FT Share\n \n ”) and one class “B” share purchase warrant (each, a “\n \n Warrant\n \n ”). Each Warrant entitles its holder to purchase one class “B” share of the Corporation (each, a “\n \n Warrant Share\n \n ”) at a price of $0.12 per Warrant Share until October 31, 2028. Each CFT Share and Warrant comprising the Charity FT Unit qualifies as a “flow-through share” within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (Canada) (the “\n \n Tax Act\n \n ”) and section 359.1 of the\n \n Taxation Act\n \n (Québec) (the “\n \n Québec Tax Act\n \n ”).\n \n\n Each Unit consists of one class “B” share of the Corporation (each, a “\n \n Unit Share\n \n ”) and one Warrant, with each Warrant exercisable by the holder to acquire a Warrant Share at a price of $0.12 until October 31, 2028.\n \n\n The Corporation expects to use the net proceeds from the sale of Units for working capital and general corporate purposes. The gross proceeds from the sale of the Charity FT Units will be used for the exploration and advancement of t...