Azincourt Energy Corp. Closes First Tranche of Private Placement

Core Viewpoint - Azincourt Energy Corp. has successfully closed the first tranche of a non-brokered private placement, raising gross proceeds of C$739,948.96 through the issuance of non-flow-through and flow-through units at a price of C$0.015 each [1][3]. Group 1: Offering Details - The private placement consists of 35,329,931 non-flow-through units and 13,999,997 flow-through units [1]. - Each non-flow-through unit includes one common share and one common share purchase warrant, while each flow-through unit includes one flow-through common share and one common share purchase warrant [2]. - The warrants are exercisable at a price of C$0.05 until July 15, 2028 [2]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated to the drilling, exploration, and development of the Snegamook and Harrier Projects in Newfoundland and Labrador, as well as for general working capital [3]. - The funds raised from the flow-through shares will be used to incur eligible resource exploration expenses qualifying as Canadian exploration expenses and flow-through critical mineral mining expenditures [5]. Group 3: Financial and Regulatory Information - The company paid cash finders' fees totaling C$44,895 and issued 2,993,000 finders' warrants [4]. - The securities issued are subject to a hold period of four months and one day from July 15, 2025, and require final approval from the TSX Venture Exchange [4].