Saskatoon, SK, December 24, 2014 – AZINCOURT URANIUM INC. (“Azincourt” or “the Company“; TSXV: AAZ), announces that it intends to undertake a non-brokered private placement (the “Offering”) to raise aggregate gross proceeds of up to $500,000 on a best efforts basis. The Offering will consist of the issuance of up to 8,333,333 flow-through units at a price of C$0.06 per flow-through units ($500,000).
Each Flow-through Unit will consist of one flow through share and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one additional common share for a period of 24 months at a price of C$0.10 per share.
The net proceeds of the flow-through private placement will be used to advance the Company’s Patterson Lake North exploration project in Saskatchewan, Canada.
The Company expects to pay finders’ fees in connection with the offering, in accordance with TSX Venture Exchange policies.
Closing of the Offering is expected on or about December 31, 2014, and is subject to receipt of TSX Venture Exchange acceptance.
About Azincourt Uranium Inc.
Azincourt is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Vancouver, British Columbia. Azincourt currently holds a 10% interest in the PLN exploration project joint venture with Fission 3.0 in northern Saskatchewan, with an option to earn up to 50% of the project.
ON BEHALF OF THE BOARD OF AZINCOURT URANIUM INC.
Ted O’Connor, CEO and President
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Specifically, there is no assurance the Company will be able to complete in whole or in part the brokered private placement on the terms set forth above, or at all.
For further information please contact:
Ted O’Connor, President & CEO
Azincourt Uranium Inc.
Corporate Development/Investor Relations