Financing will support exploration at the Elmer and Wabamisk properties and provide funding for general corporate purposes
Azimut Exploration (TSX.V: AZM) (OTCQX: AZMTF) announced plans to conduct a nonbrokered private placement for total proceeds of up to $7 million. The offering will consist of 6,038,647 flow-through shares priced at $0.828 per share and 3,333,333 hard-dollar shares priced at $0.60 per share. Proceeds from the flow-through shares will be used primarily to further advance the Elmer and Wabamisk properties, while proceeds from the hard-dollar shares will support exploration and general corporate purposes.
The offering is expected to close on or about Aug. 10, 2026, subject to regulatory approval. Securities issued through the offering will be subject to a hold period of four months and one day. Azimut may pay eligible finders a cash fee equal to 6% of gross proceeds received from purchasers they introduce.
About Azimut
Azimut is a leading mineral exploration company with a solid reputation for target generation and partnership development. The Company controls strategic land positions for gold, copper, nickel and lithium in Quebec. Azimut is focused on several key high-impact projects:
- Wabamisk and Wabamisk East (100% Azimut), which host the Fortin Zone (antimony-gold), Rosa Zone (gold) and Lithos Zone (lithium);
- Elmer (100% Azimut), which hosts the resource-stage Patwon Deposit (gold) (311,200 oz Indicated and 513,900 oz Inferred[1]); and
- Kukamas (KGHM option), which hosts the Perseus Zone (nickel-PGE).
Azimut uses a pioneering approach to big data analytics (the proprietary AZtechMine™ expert system), enhanced by extensive exploration know-how. The Company’s competitive edge is based on systematic regional-scale data analysis. Azimut maintains rigorous financial discipline and a strong balance sheet.
Azimut has two strategic investors among its shareholders, Agnico Eagle Mines Limited and Centerra Gold Inc., which hold approximately 11% and 9.9%, respectively, of the Company’s issued and outstanding shares.
For more information, https://azimut-exploration.com/investor-hub/overview/
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