VANCOUVER, British Columbia, Jan. 11, 2018 (GLOBE NEWSWIRE) -- Azincourt Energy Corp. (the "Company" or "Azincourt") (TSX-V:AAZ) announces its intention to carry out a non-brokered private placement of up to 11 million units at a price of C$0.15 per unit for gross proceeds to the Company of up to C$1,650,000 (the "Offering").
Each unit will consist of one common share and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one additional common share for a period of 12 months at a price of C$0.22 per common share.
Azincourt will apply the net proceeds of the Offering to advance the company's projects and for general working capital purposes.
In accordance with applicable Canadian securities legislation, all securities issued under the Offering will be subject to a four-month-and-one-day hold period from the date of issuance. The company may pay finders' fees and/or commissions to eligible persons in connection with the Offering in accordance with the policies of the TSX Venture Exchange.
Closing of this offering is subject to the receipt of all necessary regulatory approvals including that of the TSX Venture Exchange.
