Abcourt Closes a Private Placement of $ 838,487 IN Flow- Through Shares and Common Units _______________________________________________________________________
FOR IMMEDIATE RELEASE
TSX Venture Exchange: ABI.V
December 31, 2018
ABCOURT CLOSES A PRIVATE PLACEMENT OF $ 838,487 IN FLOW-
THROUGH SHARES AND COMMON UNITS
_______________________________________________________________________
Rouyn-Noranda, Canada, December 31, 2018 – Abcourt Mines Inc. ( « Abcourt » or the
« Corporation ») (TSX Venture: ABI, Berlin: AML-BE, Frankfurt Stock Exchange : AML-FF)
has closed today a non-brokered private placement for a number of 10,264,100 flow-
through shares at a price of $0.07 per flow-through share for gross proceeds of $ 718,487 and a
number of 200 Units at a price of $600 per Unit for gross proce eds of $ 120,000. Each Unit is
composed of 10,000 common shares of the Corporation offered at a price of $0.06 per common
share and of 5,000 common share purchase warrants, one warrant and $0.10 being required to
purchase one common share of the Corporation until December 31, 2020 (the “Private
Placement”).
Therefore, the Private Placement closed today consists in the s ale of 10,264,100 flow-through
shares, of 2,000,000 common shares and the issuance of 1,000,00 0 common share purchase
warrants. This represents total gross proceeds of $ 838,487, of which $ 718,487 shall be
incurred by the Corporation in exploration expenditures on expl oration mining properties located
in the Province of Québec.
In connection with the Private Placement, finder fees of $26,23 8.75 will be paid to an arm’s
length finder on some of the subscriptions. The Corporation wil l also issue 380,768 non-
transferable common share purchase warrants to the finder, each warrant and $0.10 being
required to purchase one common share of Abcourt until December 31, 2019.
Certain related parties to Abcourt (the “Related Parties”) have participated in the Private
Placement:
Renaud Hinse, director and chief executive officer of Abcourt, has purchased 2 Units
(representing 20,000 common shares and 10,000 warrants) and 483 ,000 flow-through
shares. Decochib inc., a private company controlled by Renaud H inse, has subscribed
930,000 flow-through shares;
Nicole Veilleux, director of Abcourt, has purchased 3 Units (representing 30,000
common shares and 15,000 warrants) and 100,000 flow-through shares;
Daniel Adam, director of Abcourt, has purchased 4 Units (repres enting 40,000 common
shares and 20,000 warrants) and 108,600 flow-through shares.
The securities issued to the Related Parties in the Private Pla cement constitutes a “related party
transaction” within the meaning of Regulation 61-101 respecting protection of minority security
holders in special transactions (“Regulation 61-101”). In its c onsideration and approval of the
Private Placement, the board of directors of Abcourt has determ ined that such subscriptions to
the Related Parties are exempt from the formal valuation and mi nority approval requirements of
Regulation 61-101 on the basis that the fair market value of th ese subscriptions to the Related
Parties does not exceed 25% of the market capitalization of Abc ourt, in accordance with sections
5.5 and 5.7 of Regulation 61-101.
All of the securities of Abcourt issued under the Private Place ment are subject to a hold period of
four months from the closing date, expiring on May 1 st, 2019. The Private Placement is subject to
the final approval of the TSX Venture.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a gold producer and a Canadian exploratio n company with strategically
located properties in northwestern Quebec, Canada. The Elder pr operty has gold resources
(2018) and a positive P.E.A. study (2012). Abcourt is focusing on the exploitation of the Elder
mine.
The Abcourt-Barvue property has silver–zinc resources (2014). A feasibility study was
completed in 2007 by Roche / Genivar. An update is being prepared now.
In 2016, Abcourt acquired the Sleeping Giant mine and mill, loc ated half-way between Amos
and Matagami, in Abitibi, Quebec, in the territory covered by t he Plan Nord of the Quebec
government. The mill has a capacity of 700 to 750 tonnes per da y. A NI 43-101 resource
estimate was recently filed.
To know more about Abcourt Mines Inc. (TSXV: ABI), please visit our web site at
www.abcourt.com and consult our filings under Abcourt’s profile on www.sedar.com.
For more information, please contact:
Renaud Hinse, President and CEO
T : 819 768-2857 450 446-5511
F : 819 768-5475 450 446-3550
Email: [email protected]
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276 x456
Neither 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.