Azimut Exploration Inc. (“Azimut” or “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to report that it closed its non-blocker arrangement on May 16, 2025 with Centerra Gold Inc. (“Centerra”) (“Centerra”) (TSX: CG) (NYSE: CG). 9,935,000 common stock to Centerra for a total revenue of $5,961,000.
Azimut reports that on May 16, 2025, it closed simultaneous non-company private placement with the following entities due to an additional gross revenue of $2,751,400.
- Agnico Eagle Mines Limited A wholly owned subsidiary of (“Agnico Eagle”) (TSX: AEM) (NYSE: AEM) and CDPQ Sodémex Inc. Caissed Essential Placement duQuébec (“cdpq”)) exercised their respective contractual rights to participate in certain share offerings by the company.
- Sidex LP , Fonds de Solidaritéftq (“Fonz”) NQ Investissement Minier LP (“NQIM”) Subscribing to common stock on April 28, 2025 following the spread of the company’s press release.
In total, the Company’s 14,520,666 common shares were issued at a price of $0.60 per share for gross revenue of $8,712,400 (“Provided”).
Azimut welcomes Centerra as a new strategic investor. Centerra currently owns approximately 9.9% of the company’s issuance and unpaid common stock.
Azimut believes the service reflects strong support for the company’s exploration strategy and project portfolio quality, and with this provision, we are in a position to create and advance quality targets for precious metals and critical minerals. Proceeds from the offering will be used by Azimut to expand its exploration activities Completely owned Wabamisk (Gold Antimony) and Elmer (Gold Copper) Properties and for business development and general corporate purposes. Along with explorations funded by partners planned for Cuckoo masu (Nickel – Copper – Platinum – Palladium) we expect a considerable level of activity over the next 12 months. Refundable tax credits ranging from 22.5% to 45% are expected to be recovered at the qualifying exploration costs incurred by the company.
In relation to supply, Azimut has entered into an investor rights agreement with Centerra in accordance with certain terms and conditions that Centerra has the right to participate in future share issuances to maintain ownership of the Company.
Agnico Eagle subscribes 833,333 shares of the company’s common stock for gross revenue of $499,999.80 (“Agnico offering”). The provision of Agnico constitutes a “related party transaction” as defined by the protection of minority security holders in special transactions that Agnico Eagle had (“MI 61-101”) (“Mi 61-101”) (“Mi 61-101”) (“Mi 61-101”) (“Mi 61-101”) (“Mi 61-101”) (“Mi 61-101”). company. The company relies on section 5.5(b) of MI 61-101 for exemptions from formal valuation requirements under MI 61-101. The Company relies on exemption from the minority shareholder approval requirements under section 5.7(1)(a) of MI 61-101. Follow MI 61-101. No formal or other prior evaluations have been prepared for the company. A material change report for less than 21 days will be submitted 21 days prior to the end of Agnico deadline. The details were not resolved until before Agnico supply was terminated, and we wanted to close Agnico offerings in a timely manner for sound business reasons. Upon closing the offering, Agnico Eagle exercised control and direction that profitably owned or exercised all shares of 11,034,058 common stock.
This offering is subject to final approval by the TSX Venture Exchange. All securities issued under the offering have a hold period of four months and one day from the date of closure, in accordance with applicable Canadian Securities Act.
About Centerra
Centerra Gold Inc. is a Canada-based gold mining company focused on the operation, development, exploration and acquisition of gold and copper properties in North America, Türkiye and other markets. Centerra owns and operates Milligan Mountain Mine in British Columbia, Canada and Öksüt Mine in Türkiye. It also owns exploration and development assets and operates molybdenum business units in Canada and the US.
About CDPQ
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group that manages funds for public pensions and insurance plans, we work with our partners to build companies that drive performance and progress. We operate in major financial markets, private equity, infrastructure, real estate and private debt. As of December 31, 2024, CDPQ’s net worth totaled CAD 473 billion. For more information about CDPQ, please see CDPQ.com please talk to us LinkedIn or Instagram Please follow the page or follow x .
About Sidex
Sidex is an initiative of the Quebec government and the Fonds de Solidarité FTQ. Its mission is to invest in companies engaged in mineral exploration in Quebec to diversify the province’s mineral bases, promote innovation and encourage new entrepreneurs.
Fonds de Solidaritéftq
The Fonds de Solidarité FTQ is a source of Quebec’s pride and fulfills its mission through a unique business model created over 40 years ago. Since then, Fons has led Quebec to action thanks to the retirement savings of 795,374 shareholders. With its $21.7 billion net worth as of November 30, 2024, Fonds supports approximately 4,000 companies through direct and indirect ventures and development capital investments, based on the belief that financial impacts are as much as social returns. For more information, please see fondsftq.com Or you will see our page LinkedIn .
About nqim
NQ Investissement Minier (NQIM) is a Matagami-based regional investment fund dedicated to mining development in northern Quebec. The fund provides financial support and strategic expertise to exploration companies, and investments are guided by a sustainable and responsible approach, encouraging active spinoffs in local and Aboriginal communities.
About Azimut Exploration
Azimut is a leading mineral exploration company with a strong reputation for target generation and partnership development. The company holds Quebec’s largest mineral exploration portfolio, managing strategic land locations of gold, copper, nickel and lithium.
The company’s fully owned flagship project Elmer Gold Project It is in the resource stage ( 311,200 oz is shown and 513,900 oz is estimated Use gold prices USD 1,800 per ounce* ) And there’s a powerful exploration. Azimut is also on the way Lithium galine was discovered Furthermore, in 2024, by joint venture Soquem Inc. Waba Misk (Antimony gold, lithium), Kukamas (Nickel Copper-PGE) Pilipas (Lithium) Project.
Azimut is a big data analysis (individual) aztechmine™ Expert System) was strengthened by extensive exploration know-how. The company’s competitiveness is based on systematic, regional data analysis. Azimut maintains strict financial discipline and a strong balance sheet, with 10.4 million shares issued and issued.
Qualified person
Dr. Jean-Marc Lulin (P. Geo.), president and CEO of Azimut, has prepared this press release, approves the scientific and technical information disclosed here, and will serve as a qualified person for the company in that sense. National Instrument 43-101-Standards for Mineral Project Disclosure .
This news release does not concern distribution to US newswire services for widespread use in the US.
This news release does not constitute an offer for securities for sale in the United States. The provided securities are not registered with and will not be The US Securities Act of 1933 ,As amended, such securities will not be offered or sold in the United States without registration in the United States or an applicable exemption from the registration requirements in the United States.
Contact and Information
Jean-Marc Lulin, President and CEO
Tel. :(450) 646-3015 – FAX:(450) 646-3045
Jonathan Rossett, Vice President Corporate Development
Phone: (604) 202-7531
info@azimut-exploration.com www.azimut-exploration.com
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*」 Technical report and initial mineral resource estimates for Patwon deposits in Elmer Property, Quebec, Canada “, Martin Perron, P. Eng., Chafana Hamed Sako, P. Geo., Vincent Nadeau-Benoit, P. Geo. and Simon Boudreau, P. Eng. of Innovexplo Inc., January 4, 2024.
Caution regarding forward-looking statements
This press release contains forward-looking statements. This reflects the company’s current expectations regarding future events related to offerings. Forward-looking statements contained in this press release include, but are not limited to, the use of revenue. As long as the statements in this press release contain non-historical information, the statement is essentially forward-looking and is often identified by words such as “anticipation”, “expectation”, “estimation”, “intention”, “project”, “plan”, “believe”. Forward-looking statements include risks, uncertainties, and other factors that may cause actual results and are materially different from the results expressed or implied by such forward-looking statements. These differences, there are many factors that can cause volatility and sensitivity to metal prices, particularly in the market. There are environmental risks including the impact of changes in foreign currency exchange rates and interest rates, inaccurate estimates for reserves, recovery of gold and other metals, increased regulatory burden, unexpected geological conditions, adverse mining conditions, and changes in government organizations in favor of litigation by community and non-governmental organizations. Authorities and other development and operational risks. The Company believes that assumptions inherent to forward-looking statements are reasonable, but it should not place undue reliance on these statements that apply only as of the date of this document. We disclaim any intent or obligation to update or amend forward-looking statements as a result of new information, future events, or other means, except as required by applicable securities laws. In its latest annual report submitted to SEDAR+, readers are instructed to carefully review detailed risk discussions to give a more complete understanding of the risks and uncertainties affecting the company’s business.
TSX Venture Exchange also does not accept responsibility for the validity or accuracy of this release, as it is defined in the TSX Venture Exchange policy.
