On December 29, 2023, Azincourt Energy Corp closed the transaction. The company announced that it has closed the final tranche of the transaction. The company has issued 500,000 non-flow-through units at an issue price of CAD 0.03 per unit and 5,714,286 flow-through units at an issue price of CAD 0.035 per unit, for aggregate gross proceeds of CAD 215,000.01. When combined with the earlier tranche of the transaction, the company has raised total gross proceeds of CAD 1,255,117.26 through the issuance of 1,170,000 NFT units and 34,857,635 FT units. Each NFT unit and FT unit consists of one common share and one share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of CAD 0.05 until December 29, 2026. In connection with the closing of the second tranche, the company paid finders? fees totaling CAD 15,050 and issued a total of 435,000 finder?s warrants. Each finder?s warrant is exercisable into one common share of the company at a price of CAD 0.05 until December 29, 2026. The securities issued under the transaction are subject to a hold period expiring four months and one day from December 29, 2023. The transaction is subject to the receipt of all necessary approvals including the final approval of the TSX Venture Exchange.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 10 placees, insider Carl Perkins for 142,857 units and 1 pro group for 285,750 units. The company has paid finder's fees to Red Cloud Securities Inc. for CAD 28,000.98, and 800,028 non-transferable warrants, GloRes Securities Inc. for CAD 53,900 and 1,540,000 non-transferable warrants, Canaccord Genuity Corp. for CAD 1,050 and 35,000 non-transferable warrants and Qwest Investment Fund Management Ltd. for CAD 14,000 and 400,000 non-transferable warrants,each exercisable for one share at a price of CAD 0.05 for three years.