Azincourt Energy Corp. Closes Private Placement

Core Viewpoint - Azincourt Energy Corp. has successfully closed the final tranche of its non-brokered private placement, raising a total of C$813,949 through the issuance of non-flow-through and flow-through units [1][3]. Group 1: Offering Details - The second tranche included 1,100,000 non-flow-through units priced at C$0.015 each and 3,833,333 flow-through units also priced at C$0.015 each [1]. - Each non-flow-through unit consists of 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 August 11, 2028 [2]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated to 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: Insider Participation and Fees - An insider of the company participated in the offering, acquiring 500,000 flow-through units for a total of $7,500, which is classified as a related party transaction [6]. - The company paid finders' fees totaling C$2,200 and issued 146,667 finders' warrants, which are also exercisable at C$0.05 for three years from the date of issue [4]. 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 [8].