Non-brokered deal funds company's projects, working capital purposes
By Devika Patel
Knoxville, Tenn., Dec. 3 - Azincourt Uranium Inc. said it has arranged a C$1.5 million non-brokered private placement of units.
The company will sell 5,555,555 units of one common share and one half-share warrant at C$0.27 per unit.
Each whole warrant is exercisable at C$0.40 for one year. The strike price is a 37.93% premium to the Dec. 2 closing share price of C$0.29.
Proceeds will be used to advance the company's projects in Canada and Peru and for general working capital purposes.
The uranium explorer is based in Vancouver, B.C.
| Issuer: | Azincourt Uranium Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 5,555,555
|
| Price: | C$0.27
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 3
|
| Stock symbol: | TSX Venture: AAZ
|
| Stock price: | C$0.29 at close Dec. 2
|
| Market capitalization: | C$8.4 million
|
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