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Abcourt Mines Inc
Symbol ABI
Shares Issued 799,402,095
Close 2025-03-03 C$ 0.05
Market Cap C$ 39,970,105
Recent Sedar Documents

Abcourt receives $3M investment from Groupe Minier

2025-03-03 16:22 ET - News Release

Mr. Pascal Hamelin reports

ABCOURT ANNOUNCES STRATEGIC PARTNERSHIP WITH GROUPE MINIER TECHNICA

Abcourt Mines Inc. has entered into a strategic partnership with Groupe Minier Technica, a leading, Canadian-owned mine contractor, pursuant to which Technica acquired 60 million units of the company at a price of five cents per unit for a total investment of $3-million.

This partnership will play a key role in accelerating Abcourt's Sleeping Giant project located in the Abitibi greenstone belt in Quebec. Technica will work alongside the project team to complete the underground construction and development work required for future capital expansion. The investment proceeds will also serve to advance the project as well as support general and administrative purposes.

Pascal Hamelin, chief executive officer and president of Abcourt, states: "We are extremely happy to partner with Groupe Minier Technica to advance the Sleeping Giant project. They're a well-established mining contractor in Canada with a solid health and safety track record. By combining our skills, we make our project more valuable to all stakeholders."

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles its holder to purchase one common share of the company at a price of eight cents per warrant share for a period of 36 months.

The investment is subject to the final approval of the TSX Venture Exchange.

About Abcourt Mines Inc.

Abcourt Mines is a Canadian exploration company with strategically located properties in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill and the Flordin property, where it focuses its exploration and development activities.

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