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Azimut $2.3 million private placement financing oversubscribed and increased to $2.5 million
Azimut $2.3 million private placement financing oversubscribed and increased to $2.5 milli...
About this update from Azimut Exploration, Inc.
[{"type":"text","content":"\n\n\n\nAzimut $2.3 million private placement financing oversubscribed and increased to $2.5 million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nAzimut $2.3 million private placement financing oversubscribed and increased to $2.5 million\nCanada NewsWire\nLONGUEUIL, QC, July 13, 2016\n\n\n\nNot for distribution to United States newswire services or for dissemination in the United States\n\nSymbol: AZM.TSX Venture \n\n\n\nLONGUEUIL, QC, July 13, 2016 /CNW Telbec/ - Azimut Exploration Inc. (\"Azimut\" or the \"Company\") (TSXV: AZM) announces that the non-brokered private placement of 7,187,500 common shares at a price of $0.32 per share for total gross proceeds of $2,300,000 announced on July 11, 2016, is oversubscribed. The placement has been increased to 7,812,500 common shares for total gross proceeds of $2,500,000.\n\nEach share issued in the placement will be accompanied by one half-warrant. Each whole warrant will entitle its holder to subscribe for one common share of the Company at a price of $0.45 per share over a 24-month period. The issued securities under this financing will be subject to a hold period of four months from the closing date. The gross proceeds of the financing will be used for exploration programs on the Company's mineral properties, business development and for general corporate purposes.\n\nFinder's fees may be paid with respect of all or part of this financing. The terms of the placement are subject to acceptance by the TSX Venture Exchange.\n\nAzimut is a mineral exploration company with the objective of discovering major ore deposits. The Company's core business is target generation and concurrent partnership development. Targets are generated using advanced processing of large geoscientific databases.\n\nThis news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America...