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 financing 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.
This capital raise is strategically important for Azimut as it seeks to accelerate exploration at two of its key projects. The Elmer property, 100% owned by Azimut, hosts the resource-stage Patwon Deposit with 311,200 oz of indicated and 513,900 oz of inferred gold resources. The Wabamisk and Wabamisk East properties, also 100% owned, host the Fortin Zone (antimony-gold), Rosa Zone (gold), and Lithos Zone (lithium). Advancing these projects could significantly enhance Azimut's asset value and attract potential partnerships.
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. Its competitive edge is based on a pioneering approach to big data analytics through its proprietary AZtechMine expert system, enhanced by extensive exploration know-how.
The company has two strategic investors among its shareholders: Agnico Eagle Mines Limited and Centerra Gold Inc., which hold approximately 11% and 9.9%, respectively, of Azimut's issued and outstanding shares. This strong institutional support underscores the credibility of Azimut's exploration strategy and the potential of its projects.
For more information, visit Azimut Exploration.
