Azimut Arranges Strategic Investment by Centerra Gold

Core Viewpoint - Azimut Exploration Inc. has entered into a subscription agreement with Centerra Gold Inc. for a private placement of 9,430,000 common shares at $0.60 per share, raising gross proceeds of $5,658,000, which will enhance Azimut's exploration capabilities in Québec [1][2]. Group 1: Investment Details - Centerra will acquire approximately 9.9% of Azimut's issued and outstanding common shares following the completion of the Offering [1]. - The Offering is expected to close on or about May 14, 2025, subject to TSX Venture Exchange approval and the execution of an investor rights agreement [3]. Group 2: Use of Proceeds - Proceeds from the Offering will be allocated for exploration work on Azimut's wholly owned properties, including the Elmer and Wabamisk projects, as well as for business development and general corporate purposes [2]. - A significant level of exploration activity is anticipated over the next 12 months, supported by partner-funded exploration at the Kukamas project [2]. Group 3: Company Overview - Azimut is recognized for its mineral exploration capabilities, holding the largest mineral exploration portfolio in Québec, focusing on gold, copper, nickel, and lithium [5]. - The Elmer Gold Project, Azimut's flagship project, has a resource estimate of 311,200 ounces indicated and 513,900 ounces inferred at a gold price of US$1,800 per ounce, indicating strong exploration potential [6]. - Azimut employs a proprietary big data analytics system, AZtechMine™, to enhance its exploration efforts and maintain a strong financial position with 85.8 million shares issued and outstanding [7].