- Azincourt Energy (AAZ) has closed the first tranche of its non-brokered private placement
- Under the first tranche, the company raised $6,405,000
- The final tranche of the fully subscribed C$7.6M offering will close in the coming weeks
- The net proceeds from the sale of units will be used primarily for the development of the East Preston uranium project
- Azincourt Energy is a Canadian-based resource company specializing in the exploration and development of alternative energy/fuel projects
- Azincourt Energy Corp. (AAZ) is up 6.25 per cent, trading at C$0.085 per share at 10:54 am ET
Azincourt Energy (AAZ) has closed the first tranche of its non-brokered private placement.
Under the first tranche of the previously announced private placement, the company raised $6,405,000 from the sale of 60,805,988 units, 10,933,459 flow-through units and 14,285,714 flow-through units sold to charitable buyers.
The final tranche of the C$7.6M offering is fully subscribed and will be completed in the coming weeks.
Red Cloud Securities Inc. is acting as a finder in connection with the offering.
The net proceeds from the sale of units will be used primarily for the development of the East Preston uranium project, for working capital, and for general corporate purposes.
In connection with the closing of the first tranche, the company paid finder’s fees totaling $422,045, advisory fees totaling $69,680 and issued a total of 6,593,437 finder’s warrants.
Azincourt Energy is a Canadian-based resource company specializing in the exploration and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements.
Azincourt Energy Corp. (AAZ) is up 6.25 per cent, trading at C$0.085 per share at 10:54 am ET.