Abcourt Closes $10 Million Brokered Private Placement

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ROUYN-NORANDA, Quebec, Oct. 31, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it has closed its previously announced brokered “best efforts” private placement (the “Offering”) conducted by Red Cloud Securities Inc., as lead agent and sole bookrunner (the “Agent”), for aggregate gross proceeds of approximately $10,000,000 through the sale of (i) 41,666,666 flow-through units of the Corporation sold to charitable purchasers (each, a “Charity FT Unit”) at a price of $0.12 per Charity FT Unit; and (ii) 58,823,530 units of the Corporation (each a “Unit”) at a price of $0.085 per Unit (the “Unit Price”).

Each Charity FT Unit consists of one class “B” share of the Corporation (each, a “FT Share”) and one class “B” share purchase warrant (each, a “Warrant”). Each Warrant entitles its holder to purchase one class “B” share of the Corporation (each, a “Warrant Share”) at a price of $0.12 per Warrant Share until October 31, 2028. Each CFT Share and Warrant comprising the Charity FT Unit qualifies as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”) and section 359.1 of the Taxation Act (Québec) (the “Québec Tax Act”).

Each Unit consists of one class “B” share of the Corporation (each, a “Unit Share”) and one Warrant, with each Warrant exercisable by the holder to acquire a Warrant Share at a price of $0.12 until October 31, 2028.

The Corporation expects to use the net proceeds from the sale of Units for working capital and general corporate purposes. The gross proceeds from the sale of the Charity FT Units will be used for the exploration and advancement of the Corporation’s Flordin-Cartwright project, located in the Abitibi Greenstone Belt in Québec. The gross proceeds from the issue and sale of the Charity FT Units will be used for Canadian exploration expenses as defined in paragraph (f) of the definition of “Canadian exploration expense” in subsection 66.1(6) of the Tax Act and will qualify as “flow-through mining expenditures”, as defined in subsection 127(9) of the Tax Act that will qualify as “flow-through mining expenditures” as defined in section 359.1 of the Québec Tax Act (the “Qualifying Expenditures”), which will be incurred on or before December 31, 2026 and renounced to the purchasers of Charity FT Units with an effective date no later than December 31, 2025 in an aggregate amount not less than the gross proceeds raised from the issue of the Charity FT Units. In the event that the Corporation is unable to renounce or incur 100% of the Qualifying Expenditures, the Corporation will indemnify each purchaser of Charity FT Units for the additional taxes payable by such purchaser as a result of the Corporation’s failure to renounce the Qualifying Expenditures as agreed.