Business
Abcourt Closes Initial Tranche Non-Brokered Private Placement for Gross Proceeds of $1,668,040
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINAT...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt Closes Initial Tranche Non-Brokered Private Placement for Gross Proceeds of $1,668,040\n\n\n\n\n NOT\n \n\n FOR\n \n\n DISTRIBUTION\n \n\n TO\n \n\n U.S.\n \n\n NEWS\n \n\n WIRE\n \n\n SERVICES\n \n\n OR\n \n\n DISSEMINATION\n \n\n IN\n \n\n THE\n \n\n UNITED\n \n\n STATES.\n \n\n\n ROUYN-NORANDA, Quebec, April 03, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“\n \n Abcourt\n \n ” or the “\n \n Corporation\n \n ”)\n \n (TSX Venture: ABI)\n \n\n (OTCQB:\n \n\n ABMBF)\n \n is pleased to announce that it has closed a first tranche of its previously announced non-brokered private, for gross proceeds of $1,668,040 (the “\n \n Offering\n \n ”) from the sale of the following:\n \n\n\n 2,300,000 units of the Corporation (the “\n \n Units\n \n ”) at a price of $0.05 per Unit for gross proceeds $115,000 from the sale of Units; and\n \n\n\n 25,884,000 common shares of the Corporation that qualify as “flow-through shares” within the meaning of subsection 66(15) of the\n \n Income\n \n\n Tax\n \n\n Act\n \n (Canada) and section 359.1 of the\n \n Taxation\n \n\n Act\n \n (Québec) (each, a “\n \n FT\n \n\n Share\n \n ”) at a price of $0.06 per FT Share for gross proceeds of $1,553,040 from the sale of FT Shares.\n \n\n\n\n Each Unit consists of one common share of the Corporation and one common share purchase warrant (each, a “\n \n Warrant\n \n ”). Each Warrant entitles its holder to purchase one common share of the Corporation (each, a “\n \n Warrant Share\n \n ”) at a price of $0.08 per Warrant Share at any time on or before April 3, 2028, subject to acceleration in certain circumstances.\n \n\n The Corporation intends to use the proceeds of the Offering for the exploration and advancement of the Corporation’s Flordin and Sleeping Giant gold projects, which are located in the Abitibi Greenstone Belt in Québec, as well as for working capital purposes and general corporate purposes.\n \n\n In connection with the Offering, the Corporation paid finder’s fees of $1,051,20 in cash and $91,051.20 in common shares at a deemed value of $0.05 per common share, and issued 1,535,040 Warrants to arm’s length third parties who assisted the Corporation by introducing subscribers to the Offering.\n \n\n All ...