Azimut Exploration Inc. (TSX.V: AZM) (OTCQX: AZMTF) has announced plans for a non-brokered private placement to raise total proceeds of up to $7 million, according to a press release. The offering will include 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 are earmarked primarily to advance the Elmer and Wabamisk properties, while hard-dollar share proceeds will support exploration and general corporate purposes.
The Elmer property, 100% owned by Azimut, hosts the resource-stage Patwon Deposit, which has indicated resources of 311,200 ounces of gold and inferred resources of 513,900 ounces of gold. The Wabamisk and Wabamisk East properties, also 100% owned, contain 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.
The offering is expected to close on or about Aug. 10, 2026, subject to regulatory approval. Securities issued 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 from purchasers they introduce.
Azimut Exploration is known for its systematic regional-scale data analysis using its proprietary AZtechMine expert system. 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%, respectively, of issued and outstanding shares.
For more information about Azimut, visit https://azimut-exploration.com/investor-hub/overview/.
