Business
Abcourt Mines Announces Non-Brokered Private Placement for up to $3.0 Million to Advance the Sleeping Giant Project
ROUYN-NORANDA, Quebec, June 13, 2023 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) is pleased to announce that it p
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":" ROUYN-NORANDA, Quebec, June 13, 2023 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) is pleased to announce that it proposes to complete a non-brokered private placement to raise gross proceeds of up to $3,000,000 (the \"Offering\"). The Offering will consist of up to 54,545,455 units of the Corporation (the \"Units\") at a price of $0.055 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 $0.10 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 primarily used to advance activities for development and exploration at the Sleeping Giant Gold Project in the Abitibi Greenstone belt of Quebec and 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. Closing of the Offering is expected to take place on or around June 27, 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.com and consult our filings under Abcourt's profile on www.sedar.com, or contact: Pascal HamelinPresident and CEOT: (819) 768-2857E: [email protected] Dany Cenac Robert, Investor RelationsReseau ProMarket Inc.,T: (514) 722-2276, post 456E: dany.cen...