Azimut Exploration Inc. has closed its previously announced non-brokered private placement for total proceeds of approximately $7 million. The offering consisted of 6,038,647 flow-through shares at $0.828 per share for gross proceeds of $5,000,000, and 3,333,332 hard dollar shares at $0.60 per share for gross proceeds of $2,000,000. Centerra Gold Inc. increased its ownership interest in the company from 9.84% to 12.67%, while Agnico Eagle Mines Limited and CDPQ Sodémex Inc. exercised their contractual rights to acquire common shares. Proceeds will be used to advance the wholly owned Wabamisk and Elmer properties, with the flow-through share proceeds to be renounced as Canadian exploration expenses effective no later than December 31, 2026. The offering remains subject to final approval of the TSX Venture Exchange, and all securities issued are subject to a four-month hold period expiring December 19, 2026.
Centerra Gold IncIncreased ownership in Azimut, indicating strategic investment.
Agnico Eagle Mines LimitedClosed $7M private placement to fund exploration.
