Business
Abcourt Closes $4.6 M Non-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 $4.6 M Non-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, May 06, 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 an additional tranche of its previously announced non-brokered private placement, for additional gross proceeds of $4,613,004 (the “\n \n Private Placement\n \n ”) from the sale of the following:\n \n\n\n 85,620,000 units of the Corporation (the “\n \n Units\n \n ”) at a price of $0.05 per Unit; and\n \n\n 5,533,400 common shares of the Corporation that qualify as “flow-through shares” within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (Canada) and section 359.1 of the\n \n Taxation Act\n \n (Québec) (each, a “\n \n FT Share\n \n ”) at a price of $0.06 per FT Share\n \n\n\n In the aggregate, the Corporation has recently raised a total of $9,281,044 by way of private placement, including $3,000,000 the context of a strategic investment made by Groupe Minier Technica (see Abcourt’s news release dated March 3, 2025), and an amount of $1,668,040 in a previous tranche of the non-brokered placement (see Abcourt’s news release dated April 3, 2025).\n \n\n Each Unit consists of one common share of the Corporation (a “\n \n Common Share\n \n ”) and one common share purchase warrant (a “\n \n Warrant\n \n ”). Each Warrant entitles the holder to purchase one Common Share at a price of $0.08 for a period of 36 months following the closing date of the Private Placement (the “\n \n Closing Date\n \n ”).\n \n\n In the event that, during the period ranging between 12 months and 36 months following the Closing Date, the volume-weighted average trading price of the Common Shares exceeds $0.12 per Common Share for any period of 20 consecutive trading days, the Corporation may, at its option, following such 20-day period, accelerate the expiry date of the Warrants by delivery of notice to the registered holders (an “\n \n Acceleration Notice\n \n “) thereof and issuing a press release (a “\...