VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 20, 2013) -
THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
AZINCOURT URANIUM INC. ("Azincourt" or "the Company") (TSX VENTURE:AAZ) is pleased to announce that it has completed a non-brokered flow through private placement of 4,473,366 flow through shares (the "Shares") of the Company at a price of $0.30 per Share for gross proceeds of $1,042,009.90 (the "Offering").
All the Shares issued under the Offering are subject to a four-month hold period in accordance with applicable Canadian securities laws that expires on April 21, 2014.
The net proceeds of the private placement will be used to advance the Company's Patterson Lake North property in Canada's Athabasca Basin.
In connection with the Offering, Azincourt paid cash commissions to eligible finders totalling C$80,960.79.
Closing of this Offering has received final acceptance by the TSX Venture Exchange.
About Azincourt Uranium Inc.
Azincourt Uranium Inc. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties, with offices in in Vancouver, British Columbia and Saskatoon, Saskatchewan. Its common shares are listed on the TSX Venture Exchange under the symbol "AAZ".
ON BEHALF OF THE BOARD OF AZINCOURT URANIUM INC.
Ted O'Connor, CEO and President
Neither the 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.
This press release includes "forward-looking statements" that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Specifically, there is no assurance the Company will be able to complete the private placement on the terms set forth above, or at all.