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 Elmer property, 100% owned by Azimut, hosts the resource-stage Patwon Deposit, which contains 311,200 ounces of gold indicated and 513,900 ounces of gold inferred. The Wabamisk and Wabamisk East properties, also 100% owned, host the Fortin Zone (antimony-gold), Rosa Zone (gold), and Lithos Zone (lithium). This financing is expected to accelerate exploration at these high-impact projects, potentially enhancing their resource estimates and advancing them toward development.
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.
Azimut is a leading mineral exploration company with a solid reputation for target generation and partnership development. The company controls strategic land positions for gold, copper, nickel, and lithium in Quebec. In addition to Elmer and Wabamisk, Azimut is focused on the Kukamas project (under option to KGHM), which hosts the Perseus Zone (nickel-PGE). The company uses a pioneering approach to big data analytics through its proprietary AZtechMine expert system, enhanced by extensive exploration know-how. Azimut 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.
This private placement strengthens Azimut's ability to advance its key projects amid a favorable environment for critical minerals. For more information, visit https://azimut-exploration.com/investor-hub/overview/.
