Abcourt Mines Closes $325,000 Private Placement
Canadian mining company Abcourt Mines Inc. announced the closing of a private placement raising $325,000. The funds are intended for general working capital.
Abcourt Mines Inc., a Canadian exploration company, has closed a private placement totaling $325,000. The company issued 5 million units at a price of $0.065 per unit.
Each unit comprises one common share and one common share purchase warrant. The warrants allow the holder to purchase a common share for $0.15 for up to 36 months after issuance. Abcourt intends to use the proceeds from this placement for general working capital purposes.
As part of the transaction, Abcourt paid a cash commission of $19,500 and issued 300,000 warrants to Red Cloud Securities Inc. as a finder's fee. These warrants carry the same terms as those issued to other investors.
All securities issued are subject to a four-month and one-day statutory hold period. The offering requires final approval from the TSX Venture Exchange. Abcourt Mines is a gold producer focused on its Sleeping Giant mine and mill in northwestern Quebec.