Azincourt arranges $2.2-million private placement

Executive Summary

• Azincourt Energy Corp. announced a non-brokered private placement to raise up to $2.2 million in gross proceeds.
• The offering is split into flow-through units priced at $0.06 and non-flow-through units priced at $0.05, each accompanied by warrants exercisable at $0.07.
• Proceeds will fund the summer 2026 drilling and exploration budget for the Snegamook uranium deposit, general working capital, and eligible Canadian flow-through exploration expenses, subject to TSX Venture Exchange approval and a standard hold period.

Key Details

• Gross Proceeds: Up to $2.2 million
• Flow-Through Units: Up to 21,666,666 units issued at $0.06 per unit
• Non-Flow-Through Units: Up to 18,000,000 units issued at $0.05 per unit
• Unit Composition: Each FT unit includes 1 flow-through common share + 0.5 flow-through common share purchase warrant. Each NFT unit includes 1 common share + 0.5 common share purchase warrant.
• Warrant Terms: Exercisable at $0.07 per share for 24 months from the date of issue.
• Use of Proceeds (NFT): Applied to increase the summer 2026 drilling, exploration, and development budget for the Snegamook uranium deposit (Central mineral belt, Newfoundland and Labrador) and for general working capital.
• Use of Proceeds (FT): Used to incur eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures under the Income Tax Act (Canada) for critical mineral projects, to be incurred on or before December 31, 2027.
• Renunciation: All qualifying expenditures will be renounced in favour of FT subscribers, effective December 31, 2026.
• Hold Period: 4 months and 1 day from the closing date of the offering.
• Regulatory/Exchange Conditions: Subject to closing conditions including receipt of all necessary approvals, specifically conditional approval from the TSX Venture Exchange.
• Insider Participation: Insiders and related parties may participate. Participation is exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101, as the fair market value involving interested parties will not exceed 25% of the company's market capitalization.
• Finders' Fees: May be paid in accordance with applicable securities laws and TSX Venture Exchange policies.