07:59:37 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Abcourt Mines Inc
Symbol ABI
Shares Issued 162,034,772
Close 2012-08-23 C$ 0.085
Market Cap C$ 13,772,956
Recent Sedar Documents

Abcourt arranges $1-million non-brokered placement

2012-08-24 12:26 ET - News Release

Mr. Renaud Hins reports

ABCOURT ANNOUNCES THE TERMS OF A NON-BROKERED PRIVATE PLACEMENT FOR NEW ISSUE OF COMMON AND FLOW-THROUGH UNITS

Abcourt Mines Inc. will not proceed with further closings to the private placement with Industrial Alliance Securities Inc. As announced in the press release dated June 11, 2012, the company completed a private placement of $1.05-million in flow-through units with this agent, on the terms and conditions mentioned in that press release.

Non-brokered private placement

The company announces that it will be proceeding with a non-brokered private placement of up to $1-million, which will comprise Class B share units of the company at a price of 10 cents per unit and Class B units to be issued as flow-through units at a price of 12 cents per flow-through unit. Each unit will consist of one common share and one-half common share purchase warrant of the company. Each full warrant will entitle the holder thereof to purchase one common share of the company over a period of 24 months from the date of closing at a price of 14 cents (year 1) and 16 cents (year 2). Each flow-through unit will consist of one flow-through share and half of one common share purchase warrant of the company. Each full warrant will entitle the holder thereof to purchase one common share of the company over a period of 12 months from the date of closing at a price of 20 cents.

The proceeds from the flow-through units will be used by the company primarily to further advance the Elder gold mine project in the Abitibi region in the province of Quebec, and the proceeds from the units will be allocated to working capital.

In connection with this private placement, the company will pay cash finders' fees in an amount equal to 6 per cent of the gross proceeds (of a maximum of $500,000) from the sale of the units and the flow-through units that will be subscribed by purchasers introduced by Meadowbank Asset Management Inc.; no fees will be payable for all other subscriptions.

This private placement is expected to close mid-September, 2012.

The placement is subject to customary conditions and the approval of the TSX Venture Exchange. The securities issued and sold will be subject to a four-month hold period under applicable securities legislation.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.