Azincourt Energy Corp. Closes First Tranche of Private Placement

About this update from Azincourt Energy Corp

[{"type":"text","content":"Azincourt Energy Corp. Closes First Tranche of Private PlacementVancouver, British Columbia--(Newsfile Corp. - July 15, 2025) - AZINCOURT ENERGY CORP. (TSXV: AAZ) (\"Azincourt\" or the \"Company\"), is pleased to announce it has closed a first tranche of its non-brokered private placement consisting of 35,329,931 non-flow-through units (the \"NFT Units\") offered at a price of C$0.015 per NFT Unit and 13,999,997 flow through units (the \"FT Units\") offered at a price of C$0.015 per FT Unit (the \"Offering\") for gross proceeds of C$739,948.96.Each NFT Unit is comprised of one common share (a \"Share\") and one common share purchase warrant (a \"Warrant\"). Each FT Unit is comprised of one flow-through common share (a \"FT Share\") and one common share purchase Warrant. Each Warrant is exercisable at a price of C$0.05 into one common share until July 15, 2028.The proceeds of the Offering will be applied to the drilling, exploration and development of the Company's Snegamook and Harrier Projects located within the Central Mineral Belt of Newfoundland and Labrador, Canada and for general working capital. Proceeds of the Offering will not be used for payments to non-arms length parties of the Company nor for any payment relating to persons conducting investor relations activities.In connection with the closing, the Company paid cash finders' fees totaling C$44,895 and issued 2,993,000 Finders Warrants exercisable at a price of C$0.05 into one common share for three years from the date of issue. The securities issued under the Offering are subject to a hold period under applicable securities laws in Canada expiring four months and one day from July 15, 2025 and are subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the final approval of the TSX Venture Exchange.The FT Shares will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\")). An amount equal to the gross proceeds from the issuance of the FT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) \"Canadian exploration expenses\" (as defined in the Tax Act), and (ii) as \"flow-through critical mineral mining expenditures\" (as defined in subsection 127(9) of the Tax Act) (collectively, the \"...

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