ROUYN-NORANDA, Québec, Aug. 22, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. ("Abcourt" or the "Corporation") (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it has accepted loan offers totaling $5,800,000 in principal from Investissement Québec, as an agent of the Government of Québec, consisting of a bridge loan of up to $1,300,000 to finance tax credits related to resources for the fiscal year ending June 30, 2025 ("Loan No. 1") and a second bridge loan of up to $4,500,000 to finance tax credits related to resources for the fiscal year ending June 30, 2026 ("Loan No. 2", and together with Loan No. 1, the "Loans").
Pascal Hamelin, President and CEO of Abcourt, commented: "We are very pleased to have Investissement Québec as a financial partner in the development of the Sleeping Giant project. This partnership provides significant support to Abcourt during this important phase of the project's development towards commercial production."
The Loans will bear interest at an annual rate equal to the prime rate plus 2.55%, up to December 31, 2026, for Loan No. 1, and up to December 31, 2027, for Loan No. 2. The Loans will be secured by a first-ranking security on refundable tax credits and an irrevocable support letter of credit representing 10% of the Loans (collectively, the "Security"). The Loans will be disbursed upon the execution of the definitive agreements related to the Loans and the Security.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a Canadian development company with properties strategically located in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mine and mill, as well as the Flordin property, where it focuses its development activities.
For more information about Abcourt Mines Inc., please visit our website at www.abcourt.ca and view our filings under Abcourt's profile on www.sedarplus.ca.
| Pascal Hamelin | Dany Cenac Robert, Investor Relations |
| President and CEO | Reseau ProMarket Inc. |
| T: (819) 768-2857 | T: (514) 722-2276, # 456 |
| Email: phamelin@abcourt.com | Email: dany.cenac-robert@reseaupromarket.com |
FORWARD-LOOKING STATEMENTS
Certain information contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by using forward-looking terminology, such as "plans", "aims", "expects", "projects", "intends", "anticipates", "estimates", "could", "should", "likely", or variations of such words and phrases or statements specifying that certain acts, events or results "may", "should", "will" or "be achieved" or other similar expressions. Forward-looking statements, including the expectation of the Corporation with respect to the disbursement of the Loans and the use of the proceeds from the Loans, are based on Abcourt's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business, economic and uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt's public filings, which are available on SEDAR+ at www.sedarplus.ca. Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, there can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
