Abcourt Announces Closing of a US$2,000,000 Transaction with Maverix Metals Inc.
For immediate release
TSX Venture: ABI.V
ABCOURT ANNOUNCES CLOSING OF A US$2,000,000 TRANSACTION
WITH MAVERIX METALS INC.
Rouyn-Noranda, Canada, September 22, 2022 - Abcourt Mines Inc. (“Abcourt” or the
“Corporation”) (TSX Venture: ABI) is pleased to announce the closing of a transaction
(the “Transaction”) with Maverix Metals Inc. (“Maverix”) (TSX;NYSE: MMX) whereby Abcourt
has granted Maverix a 2% net smelter return royalty on all meta llic and non-metallic minerals
mined or otherwise recovered on each of the Géant Dormant and D ormex properties
(the “Royalty”), in accordance with the terms of a net smelter return royalt y agreement. Maverix
made a US$2,000,000 cash payment to Abcourt as consideration for the Royalty.
Abcourt may, at any time prior to the third anniversary of the Transaction, elect to reduce the
royalty rate by 0.5% upon payment of an amount of US$2,000,000 (the “ First Option ”), and
may, at any time prior to the sixth anniversary of the Transact ion, elect to reduce the Royalty
rate by 0.5% upon payment of an amount of US$4,000,000 to the h older of the Royalty, thereby
reducing the rate of the Royalty to 1.0% to the extent Abcourt also exercises the First Option.
Mr. Pascal Hamelin, President and Chief Executive Officer of Ab court, commented: “We are
extremely pleased to welcome Maverix as a strategic partner in the restart of production at the
Sleeping Giant Mine. This investment demonstrates the potentia l that Sleeping Giant has to
offer, and we look forward to unlock this potential with our new partner”.
Abcourt paid a 4% fee to Red Cloud Securities Inc. (“ Red Cloud”) for its services as financial
advisor in connection with the Transaction.
Additional information regarding the private placement completed on July 20, 2022
On July 20, 2022, Abcourt closed a non-brokered private placeme nt for aggregate gross
proceeds of $1,193,750 (the “ July Offering ”). A cash commission of $69,000 was paid and
non-transferable warrants to acquire 862,500 units of the Corporation (the “Finder’s Warrants”)
were granted to Red Cloud as finder’s fees for subscriptions so urced by Red Cloud. Each
Finder’s Warrant entitles Red Cloud to purchase one unit of the Corporation at an exercise price
of $0.15 until July 20, 2025. Each such unit shall be comprise d of one common share and of
one warrant of the Corporation. Each such warrant will entitle Red Cloud to purchase one
additional common share at a price of $0.15 until July 20, 2025.
Two insiders participated in the July Offering. René Branchaud, Director, and Pascal Hamelin,
CEO, have subscribed a total of 300,000 common shares and 300,0 00 warrants of the
Corporation. Each such warrant entitles its holder to purchase one common share of the
Corporation at an exercise price of $0.15 until July 20, 2025. Their participation in the July
Offering constitutes a “related party transaction” as defined u nder National Instrument 61-101 –
Protection of Minority Security Holders in Special Transactions (“NI 61-101”). However, such
participation is exempt from the valuation and minority shareho lder approval requirements of NI
61-101 based on the fact that neither the fair market value of the July Offering, nor the
consideration paid by such persons, exceeds 25% of the Corporat ion’s market capitalization.
The Corporation did not file a material change report at least 21 days prior to the closing of the
July Offering as participation of the insiders had not been established at that time.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a gold producer and a Canadian exploration corporation with strategically
located properties in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mill and
mine where it concentrates its activities.
ABOUT MAVERIX METALS INC.
Maverix is a gold-focused royalty and streaming company with a globally diversified portfolio of
over 140 assets. Maverix’s mission is to increase per share va lue by acquiring precious metals
royalties and streams. Its shares trade on both the NYSE Americ an and the TSX under the
symbol “MMX”.
For further information, please visit our website at www.abcourt.com , and consult our filings
under Abcourt's profile on www.sedar.com, or contact:
Pascal Hamelin
President and CEO
T: (819) 768-2857
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276, post 456
FORWARD-LOOKING INFORMATION
Certain information contained herein may constitute “forward-looking information” under Canadian
securities legislation. Generally, forward-looking information can be identifi ed by the use of forward-
looking terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”,
“could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results
“may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar expressions.
Forward-looking statements, including the expec tations of Abcourt’s management regarding the
completion of the Transaction, are based on Abcourt’s estimates and are subject to known and unknown
risks, uncertainties and other factor s that may cause the act ual results, level of activity, performance or
achievements of Abcourt to be materially different from those expressed or implied by such forward-
looking statements or forward-looking information. Forward-looking statements are subject to business
and economic factors and uncertainties, and other fa ctors that could cause actual results to differ
materially from these forward-looking statements, including the relevant assumptions and risks factors set
out in Abcourt’s public documents, available on SEDAR at www.sedar.com. There can be no assurance
that such statements will prove to be accurate, as act ual results and future events could differ materially
from those anticipated in such statements. Although Abcourt believes that the assumptions and factors
used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on
these statements and forward-looking information. Except where required by applicable law, Abcourt
disclaims any intention or obligation to update or re vise any forward-looking statement, whether as a
result of new information, future events or otherwise.
The TSX Venture Exchange and its regulatory service provider (as defined in the policies of the TSX
Venture Exchange) assume no responsibility for the adequacy or accuracy of this press release.