Northwire Canada EditionTuesday, November 10, 2026
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Financings

Azincourt Energy closes $2.19-million private placement

By The Northwire Desk — AI Analysis Mar 13, 2026 · 18:34 AAZ · 0.06 Azincourt Energy Corp.
AAZ · Price

Executive Summary

  • Azincourt Energy Corp. has closed a non-brokered private placement raising approximately $2.2 million in gross proceeds through the issuance of flow-through and non-flow-through units.
  • The offering includes warrants exercisable at $0.07 per share for 24 months, with proceeds allocated to the summer 2026 drilling budget for the Snegamook uranium deposit, general working capital, and eligible Canadian exploration expenses for flow-through tax purposes.
  • Insiders participated with $142,000 in purchases, while the company compensated finders with $95,700 in cash and 1.78 million non-transferable warrants.

Key Details

  • Gross Proceeds: $2,196,499.88
  • Flow-Through (FT) Units: 13,699,998 units issued at $0.06 per unit
  • Non-Flow-Through (NFT) Units: 27,490,000 units issued at $0.05 per unit
  • Warrant Terms: Each unit includes one-half (0.5) of a warrant; exercisable at $0.07 per common share for 24 months from the date of issue
  • Use of Proceeds (NFT): Funding the summer 2026 drilling, exploration, and development budget for the Snegamook uranium deposit (Central mineral belt, Newfoundland and Labrador) and general working capital
  • Use of Proceeds (FT): Incurring eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures under the Income Tax Act (Canada), with qualifying expenditures renounced to subscribers effective Dec 31, 2026, and incurred by Dec 31, 2027
  • Insider Participation: 700,000 FT units and 2,000,000 NFT units purchased for $142,000 total proceeds; structured as a related party transaction under TSXV Policy 5.9 and MI 61-101
  • Finders' Compensation: $95,700 in arm's-length cash fees plus 1,777,333 non-transferable finders' warrants exercisable at $0.07 per share until March 13, 2028
  • Hold Period: Securities subject to a statutory hold period of 4 months and 1 day from March 13, 2026
  • Regulatory & Conditions: Subject to final approval from the TSX Venture Exchange and other standard closing conditions; insider participation relied on MI 61-101 exemptions as the fair market value did not exceed 25% of the company's market capitalization
Read the original news release →

More from Azincourt Energy Corp.

Oct 22, 2026 · 03:06

Azincourt reports low-grade radiometric intercepts at Snegamook, with laboratory assay results currently pending.

Drill Results Oct 14, 2026 · 03:06

Azincourt’s early Snegamook drill results show low radiometric grades, delaying the maiden resource estimate for the project.

Drill Results Oct 02, 2026 · 17:01

Azincourt has begun drilling at Snegamook to expand the resource, targeting wider mineralised zones with higher grades to define additional ounces.

Drill Results Sep 16, 2026 · 15:17

Azincourt advances its Labrador uranium portfolio through a Sylvia Lake option update that avoids immediate dilution to shareholders.

M&A / Property Sep 02, 2026 · 17:01

Azincourt launches a drill program at the Snegamook project to expand the resource definition.

Drill Results Aug 04, 2026 · 17:01

Azincourt secured the Sylvia Lake option and $600,000 to fund summer drilling at its Labrador uranium project.

Financings