Abcourt Closes a Fourth and Final Tranche of the Private Placement of Units Previously Announced, FOR an Additional Amount of $250,000
For immediate release
TSX Venture: ABI.V
ABCOURT CLOSES A FOURTH AND FINAL TRANCHE OF THE PRIVATE
PLACEMENT OF UNITS PREVIOUSLY ANNOUNCED, FOR AN ADDITIONAL
AMOUNT OF $250,000
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Rouyn-Noranda, Canada, December 15, 2023 - Abcourt Mines Inc. (“Abcourt” or the
“Corporation”) (TSX Venture: ABI) announces that it has completed a fourth and final tranche
of the non-brokered private placement announced on August 31, 2023 (the " Offering"), for
additional gross proceeds of $250,000, representing 6,250,000 units of the Corporation (“Units”)
at a price of $0.04 per Unit. In the aggregate, the Corporation raised $2,580,150 in gross proceeds
under the Offering.
Each Unit consists of one common share of the Corporation (a “ Common Share ”) and one
common share purchase warrant (a “ Warrant”). Each Warrant entitles the holder thereof to
purchase one Common Share at a price of $0.05 for a period of 36 months.
It is expected that the net proceeds from the Offering will be used in a proportion of 60% to
advance activities for development and exploration at the Sleeping Giant Gold Project in the
Abitibi Greenstone belt of Quebec and 40% for working capital and general corporate purposes.
All securities issued in connection with the Offering are subject to a restricted period ending on
the date that is four months plus one day following the date of their issuance, in accordance with
Canadian securities laws and policies of the TSX Venture Exchange (the “ Exchange”). The
Offering remains subject to final approval of the Exchange.
The securities offered have not been and will not be registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements. 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 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 proceeds from the Offering.
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.