Azincourt Energy Corp. Closes Private Placement

Executive Summary

• Azincourt Energy Corp. closed a non‑brokered private placement raising C$2,196,500 through the sale of flow‑through (FT) and non‑flow‑through (NFT) units.
• Proceeds will fund the 2026 drilling, exploration and development budget for the Snegamook uranium deposit and cover general working capital; FT proceeds are earmarked for eligible Canadian flow‑through critical mineral expenditures.
• The offering included insider participation of 700,000 FT Units and 2,000,000 NFT Units and involved arm’s‑length finder fees of $95,700 with issuance of non‑transferable finder’s warrants.

Key Details

• Units sold: 13,699,998 FT Units @ C$0.06 each; 27,490,000 NFT Units @ C$0.05 each.
• Gross proceeds: C$2,196,499.88.
• Unit composition:
• FT Unit = 1 flow‑through common share + ½ of a flow‑through warrant (exercisable at C$0.07 for 24 months).
• NFT Unit = 1 common share + ½ of a regular warrant (exercisable at C$0.07 for 24 months).
• Use of proceeds:
• NFT proceeds → increase summer‑2026 budget for drilling, exploration and development of the Snegamook uranium deposit; also general working capital.
• FT proceeds → eligible Canadian flow‑through critical mineral mining expenditures (Qualifying Expenditures) to be renounced to FT shareholders by Dec 31 2026.
• Finder compensation: $95,700 paid in arm’s‑length fees; issuance of 1,777,333 non‑transferable finder’s warrants (exercisable at C$0.07 until Mar 13 2028).
• Holding period: Securities subject to a hold period expiring four months and one day from March 13 2026.
• Insider participation: 700,000 FT Units and 2,000,000 NFT Units purchased for $142,000; treated as a related‑party transaction under TSX‑V policies and MI 61‑101 exemptions.
• Closing conditions: Subject to receipt of all required approvals, including final TSX Venture Exchange approval.

Notable Quotes

• “The successful closing of this private placement provides us with the capital needed to advance our Snegamook uranium project and support ongoing exploration across our critical mineral portfolio.” – Alex Klenman, President & CEO.