Azincourt Energy Announces First Tranche Closing of $887,500 and Additional Flow Through Private Placement
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AZINCOURT ENERGY ANNOUNCES FIRST TRANCHE CLOSING OF $887,500
AND ADDITIONAL FLOW THROUGH PRIVATE PLACEMENT
Vancouver B.C., January 26, 2021 - AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”) (TSX.V: AAZ) , is pleased to announce that it has closed on $887 ,500 being the first
tranche of a non-brokered private placement of units (each a “ Unit ”) to raise gross proceeds of up to
$1,500,000 and, due to strong market interest, it h as elected to conduct an additional offering of
flow through units (each, a “ FT Unit ”) for gross proceeds of $100,000 (the “ Offering ”).
Each Unit and FT Unit is comprised of one common sh are and one common share purchase warrant
(a “ Warrant ”). Each Warrant entitles the holder to purchase o ne additional common share for 5
years at a price of $0.07 per common share.
The proceeds from the Units will be applied to the Company’s projects and for general working
capital purposes. The gross proceeds from the FT U nits will be used to fund Canadian Exploration
Expenses (within the meaning of the Income Tax Act (Canada)) which shall qualify as “flow-
through mining expenditures”, for the purposes of t he Income Tax Act (Canada). It is anticipated
that expenditures will largely be focused on contin uation of the Company’s ongoing diamond
drilling program at the East Preston Uranium Projec t, located in the western Athabasca basin,
Saskatchewan, Canada.
In connection with the closing of the first tranche of the Offering, the Company paid commissions
to eligible finders totalling C$8,400 and issued to such finders a total of 168,000 Finders Warrants
on the same terms as the Warrants.
All securities to be issued in connection with the Offering will be subject to a four-month-and-one-
day statutory hold period expiring on May 27, 2021 in addition to such other restrictions as may
apply under applicable securities laws in jurisdict ions outside of Canada in accordance with
applicable securities laws.
Closing of this Offering is subject to the receipt of all necessary regulatory approvals including tha t
of the TSX Venture Exchange.
About Azincourt Energy Corp.
Azincourt Energy is a Canadian-based resource compa ny specializing in the strategic acquisition,
exploration, and development of alternative energy/ fuel projects, including uranium, lithium, and
other critical clean energy elements. The Company is currently active at its joint venture East
Preston uranium project in the Athabasca Basin, Sas katchewan, Canada, and the Escalera Group
uranium-lithium project located on the Picotani Plateau in southeastern Peru.
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 r esponsibility for the adequacy or accuracy of
this release.
This press release includes “forward-looking statem ents”, including forecasts, estimates,
expectations and objectives for future operations t hat are subject to a number of assumptions, risks
and uncertainties, many of which are beyond the con trol of Azincourt. Investors are cautioned that
any such statements are not guarantees of future pe rformance and that actual results or
developments may differ materially from those proje cted 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.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com