Azincourt Energy Corp. has closed its previously announced non-brokered private placement, raising gross proceeds of C$526,365 to fund exploration and working capital.

The financing comprised 8,223,000 flow-through units and 3,474,000 non-flow-through units, both priced at $0.045 per unit. Each unit includes one common share and one-half of a transferable common share purchase warrant, with whole warrants exercisable at $0.07 for 24 months from issuance.

Proceeds from the flow-through units will fund eligible Canadian exploration expenses qualifying as flow-through mining expenditures, while non-flow-through proceeds support general and administrative expenses and working capital. Azincourt confirmed proceeds will not fund non-arm-length parties or investor relations activities.

In connection with the closing, Azincourt paid arm-length finders' fees totalling $26,693.10 and issued 593,180 non-transferable finder's warrants exercisable at $0.05 for 24 months. All securities issued are subject to a four-month and one-day statutory hold period, and the offering remains subject to TSX Venture Exchange approval.

Azincourt's active project portfolio includes the East Preston uranium project in Saskatchewan and the Sylvia Lake uranium project in Newfoundland and Labrador. The company is also prioritising the Snegamook Uranium Deposit to prepare an updated National Instrument 43-101 compliant resource estimate.

Meanwhile, the spot price for uranium stood at US$87.25 per pound over the 30-day period ending August 14, 2026, representing a 2.47% increase from US$85.15 per pound.

Read the full announcement: Azincourt Energy Corp. Closes Private Placement