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States newswire services or for dissemination in
the United States
Symbol: AZM.TSX Venture
LONGUEUIL, QC, July 08, 2016 /CNW Telbec/ - Azimut
Exploration Inc. ("Azimut" or the "Company")
(TSXV: AZM) announces that it plans to raise gross
proceeds of up to $2,300,000 through
a non-brokered private placement of up to 7,187,500 common shares
at a price of $0.32 per share, each
share being accompanied by one half-warrant. Each whole warrant
will entitle its holder to subscribe for one common share of the
Company at a price of $0.45 per share
over a 24-month period.
The issued securities under this financing will be subject to a
hold period of four months from the closing date. The gross
proceeds of the financing will be used for exploration programs on
the Company's mineral properties, business development and for
general corporate purposes.
Finder's fees may be paid with respect of all or part of this
financing. The terms of the placement are subject to acceptance by
the TSX Venture Exchange.
Azimut is a mineral exploration company with the objective of
discovering major ore deposits. The Company's core business is
target generation and concurrent partnership development. Targets
are generated using advanced processing of large geoscientific
databases ("Big Data" approach).
This news release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful, including any of the
securities in the United States of
America. The securities have not been and will not be
registered under the United States Securities Act of 1933 (the
"1933 Act") or any state securities laws and may not be offered or
sold within the United States or
to, or for account or benefit of, U.S. Persons (as defined in
Regulation S under the 1933 Act) unless registered under the 1933
Act and applicable state securities laws, or an exemption from such
registration requirements is available
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Azimut Exploration Inc.