Azincourt Energy Closes $4,241,500 Private Placement
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AZINCOURT ENERGY CLOSES $4,241,500 PRIVATE PLACEMENT
Vancouver B.C., March 03, 2021 - AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”) (TSX.V: AAZ), is pleased to announce that it has completed the final tranche of its
non-brokered private placement and has issued 65,080,000 non-flow-through units (each, an “ NFT
Unit”) at a price of $0.05 per NFT Unit for gross proceeds of $3,254,000. The gross proceeds to
the Company of both Tranche 1 and Tranche 2 totaled $4,241,500. A single institutional investor
accounted for $1,850,000 (37,000,000 units) of the final tranche. In addition, the Company has
issued 2,000,000 flow-through units (each, a “FT Unit”) at a price of $0.05 per FT Unit for an
additional $100,000.
Each NFT Unit and FT Unit consists of one common share 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 until March 3, 2026.
The proceeds from the private placement will be applied to the Company's exploration projects, and
for general working capital purposes. The gross proceeds from the FT Units will be used to finance
Canadian exploration expenses (within the meaning of the Income 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 focused on continuation of the Company's continuing
diamond drilling program at the East Preston uranium project, located in the western Athabasca
basin, Saskatchewan, Canada.
All securities issued in connection with the private placement are subject to a statutory hold period
in accordance with applicable securities laws until July 4, 2021. In connection with completion of
the final tranche of the private placement, the Company has paid $80,800 and issued 4,796,000
Warrants and 3,180,000 finder’s shares to certain arms-length third-parties who assisted in
introducing subscribers to the Company.
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 critical clean energy elements. The Company is currently active at its joint venture East
Preston uranium project in the Athabasca Basin, Saskatchewan, 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 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.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com