Business
Exercise of Share Purchase Warrants of 2019 for $448,815
(TheNewswire) Rouyn-Noranda, Quebec, Canada - TheNewswire - O...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Exercise of Share Purchase Warrants of 2019 for $448,815\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Rouyn-Noranda,\n \n \n Quebec,\n \n \n Canada -\n \n \n TheNewswire\n-\n \n \n October 14,\n \n \n 2020 -\n \n \n Abcourt Mines Inc. (TSXV:ABI)\n \n \n (OTC:ABMBF)\n \n \n (\"\n \n \n Abcourt\n \n \n \" or the\n \n \n \"\n \n \n Corporation\n \n \n \"\n \n \n ),\n \n \n is pleased to\nannounce that almost all holders of warrants issued in the private\nplacement of 2019 have exercised their share purchase warrants. The\nCorporation has issued 1,335,960 common shares at a price of $0.13 per\nshare and 1,744,000 common shares at a price of $0.16 per share, for a\ntotal subscription amount of $448,815.\n \n \n \n \n The proceeds from the subscription of the shares issued\nupon exercise of the 2019 warrants will be used by the Corporation for\nits working capital and for exploration and development work on its\nmining properties. The Corporation intends to do some drilling on its\nFlordin property.\n \n \n \n \n The Flordin property is located approximately 25 km to\nthe north of Lebel-sur-Quevillon. It consists of 25 cells covering 976\nhectares (5.9 km\n \n \n 2\n \n \n ). In 2011, the project was assessed by\nRessources Cadiscor with an open pit plan. A calculation of resources\nwas done by InnovExplo in the past. This cannot be published as\nAbcourt has not updated these calculations.\n \n \n \n \n This press release was prepared by Mr. Renaud Hinse,\nEngineer and President of Abcourt Mines Inc. Mr. Hinse is a\n\"Qualified Person\" under the terms of Regulation 43-101. \nMr. Hinse has approved the scientific and technical disclosure.\n \n \n \n \n ABOUT ABCOURT MINES INC.\n \n \n \n \n Abcourt Mines Inc. is a gold producer and a Canadian\nexploration company with strategically located properties in\nnorthwestern Quebec, Canada. The Elder property has gold resources\n(2018). Abcourt is currently focusing on the exploitation of the Elder\nmine.\n \n \n \n \n In 2016, Abcourt acquired the Sleeping Giant mine and\nmill, located half-way between Amos and Matagami, in Abitibi, Province\nof Quebec. The mill has a capacity to treat 700 to 750 tonnes per day.\nMeasured mineral resources total 10,900 tonnes with a grade of 12.20\ng/t of gold and indicated resources total 475,625 tonnes with a grade\nof 11.20 g/t of gold. Inferred resour...