Vancouver, British Columbia--(Newsfile Corp. - August 14, 2026) - AZINCOURT ENERGY CORP. (TSXV: AAZ) ("Azincourt" or the "Company") is pleased to announce the closing of its non-brokered private placement previously announced August 4, 2026 consisting of 8,223,000 flow-through units (the "FT Units") at a price of $0.045 per FT Unit and 3,474,000 non-flow through units (the "NFT Units") at a price of $0.045 per NFT Unit for gross proceeds of C$526,365 (the "Offering").
Each FT Unit consists of one common share in the capital of the Company issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one-half of one transferable common share purchase warrant. Each NFT Unit consists of one common share in the capital of the Company and one-half of one transferable common share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one additional common share of the Company at an exercise price of $0.07 for a period of 24 months from the date of issuance.
The gross proceeds from the issuance of the FT Units will be used to incur eligible Canadian exploration expenses that are intended to qualify as "flow-through mining expenditures" as those terms are defined in the Income Tax Act (Canada). The proceeds from the issuance of the NFT Units will be used for general and administrative expenses and general working capital purposes.
Proceeds of the Offering will not be used for payments to non-arm's length parties of the Company nor for any payment relating to persons conducting investor relations activities.
In connection with the closing of the Offering the Company paid arms-length finders' fees totaling $26,693.10 and issued a total of 593,180 non-transferable finder's warrants. Each finder's warrant is exercisable into one common share of the Company at a price of $0.05 for a period of 24 months from the date of issuance. All securities issued in connection with the Offering, including any securities issued or issuable as finder's fees, will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws. The Offering remains subject to the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Azincourt Energy Corp.
Azincourt is a Canadian-based resource company specializing in the strategic acquisition, exploration and development of alternative energy and critical mineral projects, including uranium and lithium. The Company is currently active at its East Preston uranium project located in the Athabasca Basin, Saskatchewan, and is building a portfolio of uranium exploration opportunities in Labrador's Central Mineral Belt.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
"Mark Tommasi"
Mark Tommasi, CEO
For further information, please contact:
Mark Tommasi, CEO
Tel: (236)-229-2030
fair@azincourtenergy.myir.ai
Azincourt Energy Corp.
Suite 1012-1030 West Georgia St.
Vancouver, BC V6E2Y3
www.azincourtenergy.com
Cautionary Statement Regarding Forward-Looking Statements
This news release contains "forward-looking statements" or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements relating to the use of proceeds and completion of the Private Placement.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the "Risks and Uncertainties" in the Company's management discussion and analysis for the fiscal year ended September 30, 2025, dated January 28, 2026, and that the Company does not complete any further offerings; that the Company does not carry out exploration activities in respect of its mineral project as planned (or at all); and that the Company may not be able to carry out its business plans as expected.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company's actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: the future price of minerals; anticipated costs and the Company's ability to raise additional capital if and when necessary; volatility in the market price of the Company's securities; future sales of the Company's securities; the Company's ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company's mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking 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.
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.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309743
Source: Azincourt Energy Corp.
