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, which is 100% owned by Azimut, hosts the resource-stage Patwon Deposit, with 311,200 ounces of gold indicated and 513,900 ounces inferred. The Wabamisk and Wabamisk East properties, also 100% owned, contain the Fortin Zone (antimony-gold), Rosa Zone (gold), and Lithos Zone (lithium). These projects are part of Azimut's strategic land positions in Quebec for gold, copper, nickel, and lithium.
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 known for its pioneering approach to big data analytics using the proprietary AZtechMine expert system, which enhances its exploration know-how. The company maintains rigorous financial discipline and a strong balance sheet, with strategic investors including Agnico Eagle Mines Limited and Centerra Gold Inc., holding approximately 11% and 9.9%, respectively, of the company's issued shares.
This financing underscores Azimut's commitment to advancing its high-impact projects and leveraging its data-driven exploration methodology. The additional capital will enable the company to continue systematic regional-scale data analysis and field work, potentially leading to further discoveries. For more information, visit Azimut's investor overview page.
