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Azimut on its C$28.75 million bought deal private placement financing

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Azimut Exploration Inc.

On July 16, 2021, Azimut Exploration Inc., a mineral exploration company whose core business centres on target generation and partnership development, closed the previously announced bought deal private placement financing led by Paradigm Capital Inc. and including Laurentian Bank Securities Inc. and Sprott Capital Partners LP.

The bought deal private placement financing has a total gross proceeds of approximately $28.75 million, consisting of 3,463,900 common shares of the Company that qualify as “flow-through shares” at a price of $3.32 per FT Share and 9,078,472 common shares of the Company on a non-flow-through basis at a price of $1.90 per Share, which includes the exercise of the underwriters’ option to purchase 1,973,172 additional Shares.

A Fasken team comprised of Frank Mariage, Marc Pothier, Janie Harbec, Émilie Bundock and Vincent Maltais acted on behalf of Azimut in connection with this transaction.


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