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Abcourt Mines Amends Terms of Non-Brokered Private Placement Announced In June 2023
ROUYN-NORANDA, Quebec, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) announces that it amends the ter
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":" ROUYN-NORANDA, Quebec, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) announces that it amends the terms of the non-brokered private placement announced in June 2023, for which no closing occurred. It is now expected to raise gross proceeds of up to $3,000,000 (the \"Offering\"), consisting of up to 75,000,000 units of the Corporation (the \"Units\") at a price of $0.04 per Unit. Each Unit will consist of one common share of the Corporation (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.05 for a period of 36 months following the closing date of the Offering. It is expected that the net proceeds from the Offering will be used in a proportion of 60% to advance activities for development and exploration at the Sleeping Giant Gold Project in the Abitibi Greenstone belt of Quebec and 40% for working capital and general corporate purposes. All securities issued in connection with the Offering will be subject to a restricted period ending on the date that is four months plus one day following the date of their issuance, in accordance with Canadian securities laws and policies of the TSX Venture Exchange. A first closing of the Offering is expected to take place on or around September 6, 2023 and remains subject to certain conditions, including receipt of the approval of the TSX Venture Exchange. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. ABOUT ABCOURT MINES INC. Abcourt Mines Inc. is a Canadian exploration corporation with strategically located properties in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mill and mine where it concentrates its activities. For further information, please visit our website at www.abcourt.ca and consult our filings under Abcourt's profile on SEDAR+ at www.sedarplus.com, or contact: Pascal HamelinPresident and CEOT: (819) ...