Abcourt Closes $1,252,000 Non-Brokered Private Placement

Abcourt Closes $1,252,000 Non-Brokered Private Placement

Benzinga
October 10, 2024

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

ROUYN-NORANDA, Quebec, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. ("Abcourt" or the "Corporation") (TSXV: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. ...

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