Vancouver, BC, December 18, 2013 – AZINCOURT URANIUM INC. (“Azincourt” or “the Company”; TSXV: AAZ) announces that it intends to undertake a non-brokered private placement to raise aggregate gross proceeds of up to $1,042,010. The financing will be effected through the sale of up to 3,473,366 flow through shares at a price of $0.30 per flow through share.
The net proceeds of the private placement will be used to advance the Company’s Patterson Lake North property in Canada’s Athabasca Basin.
The Company expects to pay finders’ fees in connection with the offering, in accordance with TSX Venture Exchange policies.
Closing of the private placement is subject to receipt of TSX Venture Exchange approval.
About Azincourt Uranium Inc.
Azincourt Uranium Inc. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties, with offices in in Vancouver, British Columbia and Saskatoon, Saskatchewan. Its common shares are listed on the TSX Venture Exchange under the symbol “AAZ”.
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” 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. Specifically, there is no assurance the Company will be able to complete the private placement on the terms set forth above, or at all.
For further information please contact:
Dwane Brosseau – Investor Relations
Direct: 604 662 4955