Abcourt Announces Brokered Private Placement for Gross Proceeds of Up to $8.5 Million

Core Points - Abcourt Mines Inc. has entered into an agreement with Red Cloud Securities Inc. for a brokered private placement aiming to raise up to $8,500,000 through the sale of flow-through units and regular units [1][4] - The offering includes up to 41,666,666 flow-through units priced at $0.12 each and up to 41,176,471 regular units priced at $0.085 each [1][3] - The proceeds from the sale of regular units will be allocated for working capital and general corporate purposes, while proceeds from flow-through units will be directed towards the exploration of the Flordin-Cartwright project in Quebec [6] Offering Details - Each flow-through unit consists of one common share and one warrant, with the warrant allowing the purchase of an additional common share at $0.12 within 36 months [2] - Each regular unit also consists of one common share and one warrant, with similar terms for the warrant [3] - The offering is subject to conditions including necessary approvals from the TSX Venture Exchange, with a closing date expected around October 31, 2025 [7] Additional Information - The agents have an option to sell an additional $1,500,000 in units prior to the closing date [5] - The securities will be offered under the Listed Issuer Financing Exemption, making them immediately tradeable under Canadian securities legislation for Canadian residents [4] - The company is a Canadian development firm with properties in northwestern Quebec, focusing on the Sleeping Giant mine and mill [11]