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 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.
This financing comes at a critical time for Azimut as it seeks to advance its key projects. The Elmer property hosts the resource-stage Patwon Deposit, with 311,200 oz indicated and 513,900 oz inferred gold resources. The Wabamisk and Wabamisk East properties host the Fortin Zone (antimony-gold), Rosa Zone (gold), and Lithos Zone (lithium). These projects are part of Azimut's strategic land positions for gold, copper, nickel, and lithium in Quebec.
Azimut uses a pioneering approach to big data analytics through its proprietary AZtechMine expert system, enhanced by extensive exploration know-how. The company maintains rigorous financial discipline and a strong balance sheet, with strategic investors Agnico Eagle Mines Limited and Centerra Gold Inc. holding approximately 11% and 9.9% of shares, respectively.
The successful completion of this private placement will enable Azimut to continue its systematic regional-scale data analysis and exploration activities, potentially leading to new discoveries and resource expansions. The funding also supports the company's general corporate purposes, ensuring operational stability.
For more information about Azimut Exploration, visit https://azimut-exploration.com/investor-hub/overview/.
