Azincourt Energy amends private placement terms, approves 1-for-6 share consolidation

Azincourt Energy Corp. (TSXV: AAZ) (OTCQB: AZURF) announced amendments to its private placement offering and approved a revised share consolidation plan.

The company will file an amended offering document for its non-brokered private placement under the Listed Issuer Financing Exemption. The offering seeks to raise between $750,000 and $1.5 million through the sale of 15 million to 30 million units priced at $0.05 each.

The amended document will reflect revised finder's fee terms for third parties assisting with the offering and incorporate the updated share consolidation details. Other terms of the offering remain unchanged.

Azincourt's board of directors authorized a one-for-six share consolidation, revising the previously announced consolidation terms. The company currently has 516,358,032 common shares outstanding. Following the consolidation but before the offering completion, approximately 86,059,672 shares are expected to remain outstanding.

Both the private placement and share consolidation require approval from the TSX Venture Exchange before completion.

The Vancouver-based company focuses on acquiring and developing uranium, lithium and other clean energy projects. Azincourt currently operates the Harrier Project in Labrador's Central Mining Belt and the East Preston uranium project in Saskatchewan's Athabasca Basin.

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