Azincourt Energy Announces Closing of Private Placement
AZINCOURT ENERGY ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Vancouver B.C., January 24, 2018 - AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”; TSXV: AAZ) is pleased to announce that it has completed a non-brokered
private placement of 11,033,325 Units (“Units”) of the Company at a price of C$0.15 per Unit
for gross proceeds of C$1,655,000 (the “Offering”).
Each Unit is comprised of one common share and one common share purchase warrant (a
“Warrant”). Each Warrant entitles the holder to purchase one additional common share until
January 23, 2019 at a price of C$0.22 per common share.
In accordance with securities legislation, all securities issued under the Offering will be
subject to a four month hold period expiring on May 24, 2018.
The Company paid cash commissions to eligible finders under the Offering totaling
C$70,399.98.
Azincourt will apply the net proceeds of the Offering to advance the Company’s projects and
for general working capital purposes.
Final closing of this Offering has been accepted by the TSX Venture Exchange.
Warrant Exercises
In addition, the Company is also pleased to report that it has received an additional
C$1,215,009.48 in gross proceeds from the exercise of warrants over the past several
weeks.
“Our cash position is now quite strong for a company at our stage of development,” said Alex
Klenman, president & CEO. “We have more than enough funds to meet existing work
requirements on our lithium and uranium projects for the next year or so, and further, the
additional funding means we have upward flexibility in how we approach our work programs
and portfolio expansion. Simply put, we can put more dollars into the ground, and into
acquisitions,” continued Mr. Klenman.
About Azincourt Energy Corp.
Azincourt Energy is a Canadian-based resource company specializing in the strategic
acquisition, exploration and development of alternative energy/fuel properties, including
uranium, lithium, cobalt and other elements.
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
Azincourt Energy Corp.
430 – 800 West Pender Street
Vancouver, BC
V6C 2V6
www.azincourtenergy.com