Azincourt Energy Corp. Announces Private Placement

Executive Summary

• Azincourt Energy Corp. announced a non‑brokered private placement of flow‑through units (FT Units) to raise up to C$1,000,000 at $0.025 per unit.
• Each FT Unit consists of one flow‑through common share and one warrant exercisable at $0.05 for 36 months.
• Proceeds are earmarked for drilling, exploration and development of the Harrier Project in Newfoundland & Labrador, with qualifying expenditures to be incurred by 31 Dec 2026.

Key Details

• Offering Size: Up to C$1,000,000 gross proceeds.
• Unit Price: $0.025 per FT Unit.
• Unit Composition: 1 flow‑through common share + 1 common share purchase warrant.
• Warrant Terms: Exercise price $0.05; term of 36 months from issuance date.
• Use of Proceeds: Funding drilling, exploration and development activities at the Harrier Project (Central Mineral Belt, NL).
• Tax Treatment: FT Shares qualify as flow‑through shares; proceeds will be used for eligible Canadian exploration expenses and flow‑through critical mineral mining expenditures.
• Expenditure Deadline: Qualifying expenditures equal to gross proceeds must be incurred by 31 Dec 2026 and renounced to purchasers no later than 31 Dec 2025.
• Holding Period: Securities subject to a hold period of four months and one day from the closing date.
• Closing Conditions: Subject to receipt of all necessary approvals, including conditional approval from the TSX Venture Exchange; finders’ fees may be paid in accordance with applicable securities laws.

Notable Quotes

“The gross proceeds of the Offering will be applied to the drilling, exploration and development of the Company's Harrier Project…” – Alex Klenman, President & CEO.