Azincourt Energy announces C$1 million private placement for uranium project

Azincourt Energy Corp. (TSXV: AAZ) (OTCQB: AZURF) announced a non-brokered private placement to raise gross proceeds of up to C$1,000,000 through flow-through units priced at $0.025 each.

Each flow-through unit consists of one flow-through common share and one warrant. The warrants are exercisable at $0.05 per share for 36 months from the issue date.

The company stated it will use the proceeds for drilling, exploration and development of its Harrier Project in Newfoundland and Labrador's Central Mineral Belt. Azincourt specified the funds will not be used for payments to non-arms length parties or investor relations activities.

The flow-through shares qualify under Canada's Income Tax Act, with proceeds designated for eligible resource exploration expenses. These expenses must be incurred by December 31, 2026, and will be renounced to initial purchasers with an effective date no later than December 31, 2025.

The securities will be subject to a four-month and one-day hold period from closing and require TSX Venture Exchange approval. The company may pay finders' fees in accordance with securities laws and exchange policies.

Azincourt Energy focuses on uranium, lithium and other clean energy elements. The company operates the East Preston uranium project in Saskatchewan's Athabasca Basin and the Snegamook and Harrier uranium projects in Labrador's Central Mining Belt.

The offering remains subject to closing conditions and regulatory approvals. The securities have not been registered under U.S. securities laws and may not be offered or sold in the United States without registration or applicable exemptions.

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