Azincourt Energy Corp. Announces Increase to Private Placement

Core Viewpoint - Azincourt Energy Corp. has announced an increase in its non-brokered private placement, aiming to raise up to $950,000 through the offering of flow-through and non-flow-through units priced at $0.015 each [1][2]. Group 1: Offering Details - The offering consists of flow-through units (FT Units) and non-flow-through units (NFT Units), with each FT Unit comprising one flow-through common share and one common share purchase warrant, while each NFT Unit consists of one common share and one warrant [2]. - Each warrant will be exercisable at a price of $0.05 for a period of 36 months from the date of issue [2]. Group 2: Use of Proceeds - The gross proceeds from the offering will be allocated to the drilling, exploration, and development of the Snegamook and Harrier Projects in Newfoundland and Labrador, Canada, as well as for general working capital [3]. - Proceeds will not be used for payments to non-arms length parties or for investor relations activities [3]. Group 3: Tax Implications - The FT Shares will qualify as "flow-through shares" under the Income Tax Act (Canada), with proceeds used to incur eligible resource exploration expenses that qualify as Canadian exploration expenses and flow-through critical mineral mining expenditures [5]. - The company will incur qualifying expenditures equal to the gross proceeds raised from the issuance of FT Shares by December 31, 2026, and will renounce these expenditures to the initial purchasers by December 31, 2025 [5]. Group 4: Company Overview - Azincourt Energy Corp. is a Canadian resource company focused on the acquisition, exploration, and development of alternative energy projects, including uranium and lithium [7]. - The company is currently active in its East Preston uranium project in Saskatchewan and the Snegamook and Harrier uranium projects in Labrador [7].