Azincourt Energy Announces Increase IN Private Plac Ement
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
AZINCOURT ENERGY ANNOUNCES INCREASE IN PRIVATE PLAC EMENT
Vancouver B.C., February 12, 2021 - AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”) (TSX.V: AAZ) , is pleased to announce that it has increased the size of its ongoing
non-brokered private placement to primarily accommo date additional institutional demand. The
Company will now offer up to 100,000,000 non-flow-t hrough units (each, an “ NFT Unit ”) at a
price of $0.05 per NFT Unit for gross proceeds of u p to $5,000,000. In addition, the Company will
concurrently offer up to 2,000,000 flow-through uni ts (each, an “FT Unit”) at a price of $0.05 per
FT Unit.
Each NFT Unit and FT Unit consists of one common sh are of the Company and one common share
purchase warrant (each, a “ Warrant ”). Each warrant entitles the holder to acquire an additional
common share at a price of $0.07 for a period of sixty months.
The proceeds from the private placement will be app lied to the Company's projects and for general
working capital purposes. The gross proceeds from t he FT Units will be used to finance Canadian
exploration expenses (within the meaning of the Inc ome Tax Act (Canada)) which shall qualify as
flow-through mining expenditures, for the purposes of the Income Tax Act (Canada). It is
anticipated that expenditures will largely be focus ed on continuation of the Company's continuing
diamond drilling program at the East Preston uraniu m project, located in the western Athabasca
basin, Saskatchewan, Canada.
The Company expects to close the private placement in tranches, of which an initial tranche was
completed on January 26, 2021. For further informa tion regarding the private placement, readers
are encouraged to review the Company’s news release of January 26, 2021.
All securities to be issued in connection with the private placement will be subject to a four-month-
and-one-day statutory hold period in accordance with applicable securities laws. In connection with
the private placement, the Company may pay finders’ fees to eligible third-parties in consideration
for the introduction of subscribers. Closing of fu rther tranches of the private placement remains
subject to the approval 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