Wednesday, July 2, 2025

Azincourt Energy To Conduct 2.5 To 1 Reverse Split Following Financing

Azincourt Energy (TSXV: AAZ) is evidently looking to give its share price a lift. That lift however is to come in a slightly less conventional way than through operational performance, with the company last night announcing it intends to conduct a reverse split.

The share consolidation is to be conducted at a ratio of 2.5 pre-consolidation shares for one post consolidation shares, or a 2.5 to 1 basis. On a post-consolidated basis, the company is expected to have a total of 227.0 million common shares outstanding.

The share consolidation is expected to be implemented on April 15, subject to final TSX Venture approval.

The announcement of the reverse split last night was included on the back end of a financing announcement, with the firm indicating it had raised gross proceeds of $5.1 million via the sale of flow through units at a price of $0.08 per each. Each flow through unit contained one common share and one purchase warrant with an exercise price of $0.10 per share, which is valid for two years.

Proceeds from the financing are to be used to drill test the firms East Preston and Hatchet Lake uranium projects in the Athabasca Basin of Saskatchewan.

Azincourt Energy last traded at $0.08 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

FSD Pharma Announces 1 for 201 Share Consolidation

FSD Pharma (CSE: HUGE) announced this morning that it will be completing a share consolidation...

Friday, October 11, 2019, 09:04:28 AM

Skylight Health Announces 5 To 1 Share Consolidation

Skylight Health Group (TSXV: SHG) this morning announced that it intends to conduct a share...

Wednesday, May 26, 2021, 09:09:55 AM

Azincourt Energy Cuts Winter 2021 Drill Campaign Short Due To Weather Conditions

Azincourt Energy (TSXV: AAZ) this morning announced that it was forced to cut its winter...

Tuesday, March 23, 2021, 08:46:42 AM

Azincourt Energy Taps FOBI To Utilize Artificial Intelligence At East Preston Uranium Project

Azincourt Energy Corp. (TSXV: AAZ) announced this morning that it has entered into a data...

Friday, September 24, 2021, 10:23:00 AM

Killi Ltd Sets Date For Five To One Share Consolidation

Killi Ltd (TSXV: MYID) this morning set the effective date for a share consolidation. The...

Tuesday, March 30, 2021, 07:39:06 AM