Azincourt Power Corp. Closes First Tranche and Declares Upsize of Personal Placement

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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, April 22, 2024 (GLOBE NEWSWIRE) — AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ), is happy to announce it has closed a primary tranche of its non-brokered non-public placement consisting of 10,714,356 flow-through devices (the “FT Units”) presented at a worth of $0.035 consistent with FT Unit (the “Offering”) for improper proceeds of $375,002.50. The Corporate may be happy to announce an upsize to the Providing and can now lift combination improper proceeds of as much as $500,000.

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Each and every FT Unit is constructed from one flow-through habitual proportion (a “FT Share”) and one habitual proportion acquire warrant (a “Warrant”). Each and every Warrant is exercisable at a worth of $0.05 into one habitual proportion for a duration of 36 months from the era of endmost of the Providing.

The improper proceeds of the Providing will probably be carried out to the drilling, exploration and construction of the Corporate’s East Preston Attribute, situated within the Athabasca pocket of Saskatchewan, Canada and the Obese Hill lithium venture, situated in southwestern Newfoundland. Proceeds of the Providing may not be impaired for bills to non-arms area events or to individuals carrying out investor family members actions.

In reference to the endmost of the primary tranche of the Providing, the Corporate paid finders’ charges totaling $21,000.18 and issued a complete of 350,000 finder’s warrants. Each and every finder’s warrant is exercisable into one habitual proportion of the Corporate at a worth of $0.05 till April 22, 2027. The securities issued beneath the Providing are matter to a stock duration beneath appropriate securities rules in Canada expiring 4 months and one presen from the era of endmost of the Providing and are matter to positive endmost statuses together with, however now not restricted to, the receipt of all vital approvals together with the overall commendation of the TSX Undertaking Trade.

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The FT Stocks will qualify as “flow-through shares” (inside the which means of subsection 66(15) of the Source of revenue Tax Operate (Canada) (the “Tax Act”)). An quantity equivalent to the improper proceeds from the issuance of the FT Stocks will probably be impaired to incur eligible useful resource exploration bills which can qualify as (i) “Canadian exploration expenses” (as outlined within the Tax Operate), and (ii) as “flow-through critical mineral mining expenditures” (as outlined in subsection 127(9) of the Tax Operate) (jointly, the “Qualifying Expenditures”). Qualifying Expenditures in an combination quantity now not not up to the improper proceeds raised from the problem of the FT Stocks will probably be incurred (or deemed to be incurred) through the Corporate on or sooner than December 31, 2025 and will probably be renounced through the Corporate to the preliminary shoppers of the FT Stocks with an efficient era deny next than December 31, 2024.

This information let fall does now not represent an trade in to promote or a solicitation of an trade in to shop for any of the securities in the US. The securities have now not been and may not be registered beneath the US Securities Operate of 1933, as amended (the “U.S. Securities Act”) or any atmosphere securities rules and is probably not presented or offered inside of the US or to U.S. Individuals except registered beneath the U.S. Securities Operate and appropriate atmosphere securities rules or an exemption from such registration is to be had.

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About Azincourt Power Corp.

Azincourt is a Canadian-based useful resource corporate focusing on the strategic acquisition, exploration, and construction of additional power/gasoline tasks, together with uranium, lithium, and alternative important blank power parts. The Corporate is lately energetic at its three way partnership East Preston uranium venture situated within the Athabasca Basin, Saskatchewan, and the Obese Hill lithium venture, situated in southwestern Newfoundland.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

“Alex Klenman”
Alex Klenman, President & CEO

For additional knowledge please touch:

Alex Klenman, President & CEO
data@azincourtenergy.com

Azincourt Power Corp.
1012 – 1030 West Georgia Boulevard
Vancouver, BC V6E 2Y3
www.azincourtenergy.com

Cautionary Commentary Referring to Ahead-Having a look Statements

This information let fall accommodates “forward-looking statements” or “forward-looking information” (jointly, “forward-looking statements”) inside the which means of appropriate securities regulation. All statements, alternative than statements of historic reality, are forward-looking statements and are in keeping with expectancies, estimates and projections as of the era of this information let fall. Ahead-looking statements come with, however aren’t restricted to, statements in terms of the virtue of proceeds and finishing touch of the Personal Placement.

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Ahead-looking statements are matter to quite a lot of identified and unknown dangers, uncertainties and alternative components that might motive fresh occasions or effects to range from the ones expressed or implied through forward-looking statements contained herein. There may also be deny pledge that such statements will turn out to be correct, as fresh effects and life occasions may just range materially from the ones expected in such statements. Positive notable components that might motive fresh effects, efficiency or achievements to range materially from the ones within the forward-looking statements are highlighted within the “Risks and Uncertainties” within the Corporate’s control dialogue and research for the fiscal while ended September 30, 2023, dated January 24, 2024, and in addition come with the hazards that the Providing does now not whole as pondered, or in any respect; that the Corporate does now not whole to any extent further choices; that the Corporate does now not perform exploration actions in admire of its mineral venture as deliberate (or in any respect); and that the Corporate would possibly not have the ability to perform its industry plans as anticipated.

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Ahead-looking statements are founded upon a lot of estimates and guesses that, past regarded as cheap through the Corporate at this hour, are inherently matter to important industry, financial and aggressive uncertainties and contingencies that can motive the Corporate’s fresh monetary effects, efficiency, or achievements to be materially other from the ones expressed or implied herein. One of the most subject material components or guesses impaired to assemble forward-looking statements come with, with out limitation: the life worth of minerals; expected prices and the Corporate’s talent to lift spare capital if and when vital; volatility available in the market worth of the Corporate’s securities; life gross sales of the Corporate’s securities; the Corporate’s talent to hold on exploration and construction actions; the good fortune of exploration, construction and operations actions; the timing and result of drilling methods; the invention of mineral sources at the Corporate’s mineral houses; the prices of running and exploration expenditures; the presence of rules and laws that can impose restrictions on mining; worker family members; relationships with and claims through native communities and indigenous populations; availability of accelerating prices related to mining inputs and labour; the speculative nature of mineral exploration and construction (together with the hazards of acquiring vital licenses, lets in and approvals from govt government); uncertainties matching to name to mineral houses; checks through taxation government; fluctuations typically macroeconomic statuses.

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The forward-looking statements contained on this information let fall are expressly certified through this cautionary remark. Any forward-looking statements and the guesses made with admire thereto are made as of the era of this information let fall and, accordingly, are matter to modify nearest such era. The Corporate disclaims any legal responsibility to replace any forward-looking statements, whether or not because of unutilized knowledge, life occasions or in a different way, apart from as could also be required through appropriate securities rules. There may also be deny pledge that forward-looking statements will turn out to be correct, as fresh effects and life occasions may just range materially from the ones expected in such statements. Accordingly, readers must now not playground undue reliance on forward-looking statements.

Neither the TSX Undertaking Trade nor its Legislation Products and services Supplier (as that time period is outlined within the insurance policies of the TSX Undertaking Trade) accepts duty for the adequacy or accuracy of this let fall.

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