Abcourt Mines will Realize a Non-Brokered Private Placement of a Maximum of $1,5 Million
Rouyn-Noranda, March 29, 2022 - Abcourt Mines Inc. (« Abcourt » or the «Corporation») (TSXV:ABI) (OTC:ABMBF) intends to complete a non-brokered private placement of a maximum of $1,500,000 in units, at a price of $0.10 per unit. The offering is comprised of a maximum of 15,000,000 units, each unit being composed of one class B share of the Corporation (a «common share») and of one common share purchase warrant (a «warrant»), one warrant and $0.15 being required to purchase one common share until three-years from the closing dated of the private placement. It is expected that directors and officers will subscribe over 25% of this private placement. Intermediation fees might be paid for subscriptions by arm's length persons. The net proceeds of the placement will be used for working capital and payment of debts of the Corporation.
Titles subscribed under the private placement will be subject to a hold period of 4 months and one day from the closing date. The placement is subject to the approval of the TSX Venture Exchange.
The Corporation has 311,539,130 common shares issued and outstanding. If the maximum offering is subscribed, a number of 15, 000,000 common shares will be issued upon closing of the private placement and an additional number of 15,000,000 common shares might be issued upon exercise of the warrants.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a gold producer and a Canadian exploration corporation with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources (2018). Abcourt is currently focusing on the extraction of gold at the Elder mine and on the development of the Sleeping Giant.
To know more about Abcourt Mines Inc., please visit our web site at www.abcourt.com and consult our filings under Abcourt's profile on www.sedar.com.
Renaud Hinse, President and CEO
T : 819 768-2857 450 446-5511
F : 819 768-5475 450 446-3550
Email: rhinse@abcourt.com
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.
T: (514) 722-2276 post 456
Dany.Cenac-Robert@ReseauProMarket.com
The TSX Venture Exchange and its regulatory service provider (as defined in the policies of the TSX Venture Exchange) assumes no responsibility for the adequacy or accuracy of this press release.