VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 14, 2017) - Azincourt Uranium Inc. (the "Company") (TSX VENTURE:AAZ) is pleased to announce that it has completed the first tranche of a non-brokered private placement previously announced on August 1, 2017. The first tranche closing consisted of the sale and issuance of 7,200,000 Units ("Units") of the Company at a price of C$0.05 per Unit for gross proceeds of C$360,000 (the "Offering").
Each Unit is comprised of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share until August 14, 2018 at a price of C$0.12 per common share.
The Company paid commissions to eligible finders under the Offering totaling C$4,800 and issued to such finders a total of 96,000 Finders Warrants. Each Finder's Warrant entitles the holder to acquire one common share of the Company at $0.12 per share until August 14, 2018.
In accordance with securities legislation, all securities issued under the Offering will be subject to a four month hold period expiring on December 15, 2017.
Azincourt will apply the net proceeds of the Offering to advance the Company's projects and for general working capital purposes.
Final closing of this Offering is subject to final acceptance by the TSX Venture Exchange.
