Abcourt Closes $1,252,000 Non-Brokered Private Placement
For immediate release
TSX Venture: ABI.V
ABCOURT CLOSES $1,252,000 NON-BROKERED PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Rouyn-Noranda, Canada, October 10, 2024 - Abcourt Mines Inc. (“Abcourt” or the
“Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce the closing of a
non-brokered private placement of 20,866,666 units of the Corporation (“ Units”) at a price of
$0.06 per Unit for aggregate gross proceeds of $1,251,999.96 (the “Private Placement”).
"I would like to thank our current shareholders for their continued support and would like to
welcome NQ Investissement Minier as a new shareholder of Abcourt", commented Abcourt’s
CEO, Pascal Hamelin. "NQ Investissement Minier’s participation and interest in our company
serve as a significant endorsement within the sector, highlighting the potential of our projects."
Each Unit consists of one common share of the Corporation (a “ Common Share ”) and one
common share purchase warrant (a “ Warrant”). Each Warrant entitles its holder to purchase one
Common Share at a price of $0.08 for a period of 36 months.
The Corporation intends to use the net proceeds from the Private Placement to advance activities
for development and exploration at the Sleeping Giant Gold Project in the Abitibi Greenstone belt
of Quebec.
The Private Placement remains subject to approval of the TSX Venture Exchange. All securities
issued in connection with the Private Placement are subject to a statutory hold period ending on
the date that is four months plus one day following the date of their issuance.
The securities described herein have not been, and will not be, registered under the United
States Securities Act of 1933, as amended, (the “ U.S. Securities Act ”) or any state securities
laws, and accordingly, may not be offered or sold within the United States except in compliance
with the registration requirements of the U.S. Securities Act and applicable state securities
requirements or pursuant to exemptions therefrom. This news release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State
in which such offer, solicitation or sale would be unlawful.
About NQ Investissement Minier
NQ Investissement Minier was launched as a joint effort between The Société de développement
de la Baie-James (SDBJ) and l'Administration Régional Baie-James (ARBJ). The investment fund
specializes in financing mining companies respecting the principals of sustainable development in
the territory of Nord-du-Québec.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is 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.
For further information, please visit our website at www.abcourt.ca and consult our filings under
Abcourt's profile on www.sedarplus.ca, 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
Cautionary Statement on Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable
Canadian securities legislation based on expectations, estimates and projections as at the date of
this news release. Such forward-looking information includes, but is not limited to, statements
concerning the Corporation’s expectations with respect to the use of the available funds following
completion of the Private Placement; and expectations with respect to other activities, events or
developments that the Corporation expects or anticipates will or may occur in the future. Forward-
looking information involves risks, uncertainties and other factors that could cause actual events,
results, performance, prospects and opportunities to differ materially from those expressed or
implied by such forward-looking information. Factors that could cause actual results to differ
materially from such forward-looking information include, but are not limited to, delays in obtaining
or failures to obtain required approvals; uncertainties relating to the availability and costs of
financing needed in the future; changes in equity markets; inflation; fluctuations in commodity
prices; delays in the development of projects; other risks involved in the mineral exploration and
development industry; and those risks set out in the Corporation’s public documents filed on
SEDAR+ at www.sedarplus.ca. Although the Corporation believes that the assumptions and
factors used in preparing the forward-looking information in this news release are reasonable,
undue reliance should not be placed on such information, which only applies as of the date of this
news release, and no assurance can be given that such events will occur in the disclosed time
frames or at all. The Corporation disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future events or otherwise,
other than as required by law.
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 news release.