Abcourt's Successful Private Placement
Abcourt Mines Inc. is thrilled to announce the successful closure of a non-brokered private placement that has raised an impressive $1,251,999.96. This achievement comes from selling 20,866,666 units at a price of $0.06 per unit. The funds secured through this private placement are essential for the company’s projects, particularly the advancement of the Sleeping Giant Gold Project.
CEO's Insights on Shareholder Support
Pascal Hamelin, the CEO of Abcourt, expressed gratitude towards existing shareholders for their unwavering support and welcomed NQ Investissement Minier as a new stakeholder. Hamelin emphasized that the investment from NQ Investissement Minier serves as a strong endorsement of Abcourt's potential within the mining sector, highlighting the promising aspects of their projects.
Details of the Units and Warrants
Each unit acquired through the private placement consists of one common share of Abcourt and one common share purchase warrant. Notably, each warrant grants its holder the option to purchase an additional common share at a price of $0.08 for a duration of 36 months. This structure presents a promising opportunity for investors interested in the growth of Abcourt.
Utilization of Proceeds from the Placement
The net proceeds from the private placement will significantly contribute to the development and exploration activities at the Sleeping Giant Gold Project, which is strategically located in the Abitibi Greenstone belt of Quebec. This region is renowned for its rich mineral resources, and Abcourt aims to leverage these assets to enhance their operational capabilities and drive future growth.
Regulatory Approval and Compliance
The closing of this private placement is contingent upon the approval of the TSX Venture Exchange. It is important to note that all securities issued in connection with this private placement are subject to a statutory hold period, expiring four months plus one day from their issuance date.
About Abcourt Mines Inc.
Abcourt Mines Inc. stands as a Canadian exploration company with key properties located in northwestern Quebec. The company focuses its operations on the development of the Sleeping Giant mill and mine, aiming to produce significant outputs and meet the rising demands in the mining industry.
About NQ Investissement Minier
NQ Investissement Minier is a joint initiative between the Société de développement de la Baie-James and the Administration Régional Baie-James. This fund focuses on financing mining ventures while adhering to sustainable development principles within the Nord-du-Québec region.
Contact Information
If you would like more information about Abcourt Mines Inc., please reach out to the following contacts:
Pascal Hamelin
President and CEO
T: (819) 768-2857
E: phamelin@abcourt.com
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276, post 456
E: dany.cenac-robert@reseaupromarket.com
Frequently Asked Questions
What is the purpose of the private placement by Abcourt?
The private placement aims to secure funds for the development and exploration of the Sleeping Giant Gold Project.
Who is the new shareholder of Abcourt?
NQ Investissement Minier has joined as a new shareholder, contributing to the company’s growth and development prospects.
What do the units in the private placement consist of?
Each unit consists of one common share and one common share purchase warrant for additional shares at a predetermined price.
How long is the warrant valid for?
The warrant allows the holder to purchase a common share at a set price for a duration of 36 months.
How will the funds be utilized by Abcourt?
The funds will be primarily directed toward advancing activities at the Sleeping Giant Gold Project.
