Azimut Exploration Inc. (TSX.V: AZM) (OTCQX: AZMTF) has announced plans to conduct a non-brokered private placement for total proceeds of up to $7 million. The financing will consist of 6,038,647 flow-through shares priced at C$0.828 per share and 3,333,333 hard-dollar shares priced at C$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. This private placement underscores Azimut's commitment to advancing its portfolio of high-impact projects in Quebec.
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. Key projects include the Wabamisk and Wabamisk East properties (100% Azimut), which host the Fortin Zone (antimony-gold), Rosa Zone (gold) and Lithos Zone (lithium); the Elmer property (100% Azimut), which hosts the resource-stage Patwon Deposit (gold) with 311,200 oz indicated and 513,900 oz inferred; and the Kukamas property (KGHM option), which hosts the Perseus Zone (nickel-PGE).
Azimut uses a pioneering approach to big data analytics through its 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. Notably, the company 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.
This financing is a significant step for Azimut as it seeks to unlock the value of its Quebec-based mineral assets. The flow-through share structure provides tax benefits to investors, which can attract capital for exploration. The funds will be critical for advancing the Elmer and Wabamisk properties, where Azimut has already identified substantial mineral resources. The company's ability to secure financing reflects confidence in its project portfolio and technical expertise.
For more information, visit https://azimut-exploration.com/investor-hub/overview/.
