Azincourt Energy announces C$2.2 million private placement for uranium projects

Azincourt Energy Corp. (TSXV: AAZ) (OTCQB: AZURF) (FSE: A0U) announced a non-brokered private placement to raise gross proceeds of up to C$2.2 million through the sale of flow-through and non-flow-through units.

The offering consists of up to 21.67 million flow-through units priced at C$0.06 each and up to 18 million non-flow-through units priced at C$0.05 each. Each flow-through unit includes one flow-through common share and half of one flow-through warrant, while each non-flow-through unit includes one common share and half of one warrant. The warrants are exercisable at C$0.07 for 24 months from the issue date.

The company stated that proceeds from the non-flow-through units will fund summer 2026 drilling, exploration and development activities at its Snegamook uranium deposit in Newfoundland and Labrador's Central Mineral Belt, as well as general working capital. Flow-through unit proceeds will be used for eligible Canadian exploration expenses related to critical mineral projects by December 31, 2027, with qualifying expenditures to be renounced to flow-through subscribers effective December 31, 2026.

The securities will be subject to a four-month-and-one-day hold period under Canadian securities laws from the closing date. The offering requires regulatory approvals including conditional approval from the TSX Venture Exchange.

Company insiders may participate in the private placement. The participation is exempt from formal valuation and minority shareholder approval requirements as the fair market value of insider transactions will not exceed 25% of the company's market capitalization.

Azincourt Energy focuses on exploration and development of uranium, lithium and other clean energy elements. The company is active at the Harrier uranium project containing the Snegamook deposit and controls nearly 90% of the East Preston uranium project in Saskatchewan's western Athabasca Basin.

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