VANCOUVER, British Columbia, Feb. 12, 2019 (GLOBE NEWSWIRE) — Azincourt Energy Corp. (the “Company” or “Azincourt”) (TSX-V: AAZ) announces its intention to undertake a non-brokered private placement of up to 10,000,000 units (“Units”) at a price of C$0.05 per Unit for gross proceeds to the Company of up to C$500,000 (the “Offering”).
Each Unit will consist of one common share and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one additional common share for a period of 3 years at a price of C$0.075 per common share.
Azincourt will apply the net proceeds of the Offering to advance the company’s projects and for general working capital purposes.
In accordance with applicable Canadian securities legislation, all securities issued under the Offering will be subject to a four-month-and-one-day hold period from the date of issuance. The company may pay finders’ fees and/or commissions to eligible persons in connection with the Offering in accordance with the policies of the TSX Venture Exchange.
Closing of this offering is subject to the receipt of all necessary regulatory approvals including that of the TSX Venture Exchange.
About Azincourt Energy Corp.
Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration and development of alternative energy/fuel projects, including uranium, lithium, and other elements critical to the future.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
“Alex Klenman”
Alex Klenman, President & CEO
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.
For further information please contact:
Alex Klenman, President & CEO
Tel: 604-638-8063
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Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC
V6C 2V6
