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Financings

Azincourt arranges $2.2-million private placement

By The Northwire Desk — AI Analysis Feb 19, 2026 · 18:18 AAZ · 0.065 Azincourt Energy Corp.
AAZ · Price

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.
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