Business
Abcourt Closes the Private Placement of Common Units Announced Previously for $1,675,000
(TheNewswire) Rouyn-Noranda, Canada – TheNewswire - May 31, 20...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt Closes the Private Placement of Common Units Announced Previously for $1,675,000\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Rouyn-Noranda, Canada –\n \n \n TheNewswire -\n \n \n May 31, 2022 - Abcourt\nMines Inc. (“Abcourt” or the “Corporation”) (TSXV:ABI)\n \n \n (OTC:ABMBF)\n \n \n announces the closing of a non-brokered\nprivate placement announced on March 29, 2022, for a number of\n16,750,000 Units at a price of $0.10 per Unit for total proceeds of\n$1,675,000.  Each Unit is composed of one (1) Class B share of the\nCorporation (a “Common Share”) and one (1) Common Share purchase\nwarrant, each warrant and $0.15 being required to purchase one Common\nShare of the Corporation until May 31, 2025 (the “Private\nPlacement”).\n \n \n \n \n Net proceeds from the Private\nPlacement will be used by the Corporation for its working capital to\npay current debts. No finder fees were paid in connection with the\nPrivate Placement.\n \n \n \n \n After the Private Placement, the\nCorporation has 328,289,130 Common Shares issued and\noutstanding.\n \n \n \n Certain related parties to Abcourt (the “Related Parties”) have\nparticipated in the Private Placement:\n \n \n \n \n \n -.\n \n \n Renaud\nHinse, Director, through Décochib Inc., a private company owned by\nRenaud Hinse and members of his family, has purchased 6,650,000 Units\n(representing 6,650,000 Common Shares and 6,650,000 warrants) for an\namount of $665,000.  After the Private Placement and before the\nexercise of the warrants included in the Units, Renaud Hinse will hold\nor exercise control, directly or indirectly, over approximately 18.3%\nof the Corporation’s issued and outstanding Common Shares. After the\nPrivate Placement and if all the warrants issued under the Private\nPlacement were exercised, Renaud Hinse would hold or exercise control,\ndirectly or indirectly, over approximately 19.3% of the\nCorporation’s issued and outstanding Common Shares.\n \n \n \n \n \n \n \n \n -.\n \n \n Francois\nMestrallet, Director, directly and through SARL MF, a private company\ncontrolled by François Mestrallet, has purchased a total of 5,000,000\nUnits (representing 5,000,000 Common Shares and 5,000,000 warrants)\nfor an amount of $500,000.  After...