Abcourt Mines Raises $448,815 From Warrant Exercise
Abcourt Mines Inc. announced it has raised $448,815 through the exercise of 2019 share purchase warrants. The funds will be allocated to working capital and exploration and development activities.
Abcourt Mines Inc. has raised $448,815 from the exercise of its 2019 share purchase warrants, with nearly all holders participating. The company issued a total of 1,335,960 common shares at $0.13 per share and 1,744,000 common shares at $0.16 per share.
The proceeds from this warrant exercise will be used for Abcourt's working capital, as well as for exploration and development work on its mining properties. The company plans to conduct drilling on its Flordin property, located approximately 25 kilometers north of Lebel-sur-Quévillon, which covers 976 hectares.
Previous assessments of the Flordin property have included plans for open-pit mining. Abcourt Mines is a Canadian gold producer with exploration assets in northwestern Quebec. The company is currently focused on exploiting its Elder mine.
Abcourt also operates other projects, including the Sleeping Giant mine, which has gold resources, and the Abcourt-Barvue property, which holds silver-zinc reserves.