Azimut Closes $6,000,000 Private Placement Symbol: AZM.TSX Venture

Azimut Closes $6,000,000 Private Placement

Symbol: AZM.TSX Venture

LONGUEUIL, QC

,

Sept. 14, 2020

/CNW Telbec/ -

Azimut Exploration Inc.

("Azimut")

(TSXV:

AZM)

is pleased to announce the closing of the previously announced private placement of

3,333,335 common shares at a price of

$1.80

per share for aggregate proceeds of

$6,000,003

.

The securities are subject to a statutory hold period of four (4) months. Administrative fees

representing approximately 0.83% of the gross proceeds have been paid in cash. This private

placement is subject to the final approval of the TSX Venture Exchange.

The proceeds will be used to conduct exploration work on the 100%-owned Elmer Property (gold),

to carry out other exploration work, and for business development and general corporate purposes.

Azimut welcomes Sunrise SPC - Marshall Precious Metals Fund SP, a fund managed by OP

Investment Management Limited and advised by MPM Capital Management, as part of this

transaction.

"Marshall is delighted to have participated in this offering and looks forward to the continued success

of Azimut's exploration program over its impressive and prospective land position " said

David

Garofalo

, Chairman and CEO of MPM Capital Management.

About Azimut

Azimut is a mineral exploration company whose core business is centred on target generation and

partnership development. The Company uses a pioneering approach to big data analytics (the

proprietary

AZtechMine

TM

expert system) enhanced by extensive exploration know-how. Azimut

maintains rigorous financial discipline and has approximately 69.1 million shares outstanding.

Azimut's competitive edge against exploration risk is founded on systematic regional-scale data

analysis and multiple concurrently active projects.

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.

SOURCE

Azimut Exploration Inc.

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%SEDAR: 00003284E

For further information:

Jean-Marc Lulin, President and CEO, Tel.: (450) 646-3015 - Fax: (450)

646-3045, [email protected]

www.azimut-exploration.com

CO: Azimut Exploration Inc.

CNW 17:45e 14-SEP-20