ROAN NORANDA, Quebec, June 13, 2023 (Globe Newswire) — Abcourt Mines Inc. (“Abcourt” or “Co., Ltd.”) (TSX Venture: ABI) is pleased to announce that it is proposing to complete an unbrokered private placement to raise total proceeds of up to $3,000,000 (“RecruitmentThis offering will consist of up to 54,545,455 units of the Company (“unit“) are priced at $0.055 per unit. Each unit consists of one share of the Company’s common stock (“common stock”) and one common stock acquisition right (“warrant”). Each stock acquisition right entitles its holder to the purchase of one share of common stock for $0.10 for a period of 36 months from the closing date of the offer.
Net proceeds from the offering are expected to be used primarily to advance development and exploration activities at the Sleeping Giant Gold Project in the Abitibi Greenstone Zone, Quebec, and for working capital and general corporate purposes. .
All securities issued in connection with the offering are subject to a restricted period ending four months plus one day from the date of issuance pursuant to the Securities Act of Canada.
Closing of the offering is expected to occur around June 27, 2023, subject to certain conditions, including receipt of TSX Venture Exchange approval.
The securities offered have not been registered under the United States 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 does not constitute an offer to sell or the solicitation of an offer to buy, and no sale of securities shall be made in any country where such offer, solicitation or sale would be unlawful.
About Abbey Court Mines Co., Ltd.
Abcourt Mines Inc. is a Canadian exploration company that owns properties strategically located in northwestern Quebec, Canada. Abcort owns the Sleeping Giant factory and mine, where it concentrates its activities.
For more information, please visit: www.abcourt.com And please see submissions in Abcourt’s profile. www.sedar.comor contact:
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws that is based on expectations, estimates and projections as of the date of this news release. Such forward-looking information includes, but is not limited to, statements regarding the Company’s expectations regarding the use of proceeds and available funds after the closing of the offering. Completion of the offer and the expected closing date of the offer. Forward-looking information includes risks, uncertainties and other risks that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Includes factors. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays or failures in obtaining required approvals. Uncertainty about the availability and cost of future funding needs. Changes in the stock market. inflation; fluctuations in commodity prices; Delay in project development. Other risks involved in the mineral exploration and development industry. and these risks are described in our public documents filed with SEDAR (www.sedar.com). Although we believe that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, we should not place undue reliance on such information, which is reflected in this news release. Applies only as of the date of and makes no warranties of any kind. Assume that such an event does not occur within the disclosed timeframe or at all. We disclaim any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its regulated service providers (as that term is defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this news release.
