Abcourt Closes a Third Tranche of the Private Placement of Units Previously Announced, for an Additional Amount of $209,000
18 November 2023 - 12:00AM
Abcourt Mines Inc. (“Abcourt” or the
“Corporation”) (TSX Venture: ABI) announces that
it has completed a third tranche of the non-brokered private
placement announced on August 31, 2023, for additional gross
proceeds of $209,000, representing 5,225,000 units of the
Corporation (“
Units”) at a price of $0.04 per Unit
(the "
Offering"). In the aggregate, total
gross proceeds of the Offering are of $2,330,150.
Each Unit consists of one common share of the
Corporation (a “Common Share”) and one common
share purchase warrant (a “Warrant”). Each Warrant
entitles the holder thereof to purchase one Common Share at a price
of $0.05 for a period of 36 months.
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 (the “Exchange”). The
Offering remains subject to final approval of the Exchange.
The securities offered have not been and will
not be 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 www.sedarplus.ca, or contact:
Pascal HamelinPresident and CEOT:
(819) 768-2857E: phamelin@abcourt.com |
Dany Cenac Robert, Investor
RelationsReseau ProMarket Inc.,T: (514)
722-2276, post 456E: dany.cenac-robert@reseaupromarket.com |
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
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