On May 16, 2025, Azimut Exploration Inc. closed the transaction. The company announced has issued 9,935,000 common shares at a price of CAD 0.60 per common share to Centerra for gross proceeds of CAD 5,961,000. and it closed a concurrent non-brokered private placement with the following entities, for additional gross proceeds of CAD 2,751,400- Agnico Eagle Mines Limited (?Agnico Eagle?) and CDPQ Sodémex Inc. (a wholly-owned subsidiary of Caisse de dépôt et placement du Québec (?CDPQ?)), exercised their respective contractual rights to participate in certain equity offerings by the Company.
and SIDEX LP, Fonds de solidarité FTQ (?Fonds?) and NQ Investissement Minier LP (?NQIM?) subscribed for common shares. In total, 14,520,666 common shares of the Company were issued at a price of CAD 0.60 per share for aggregate gross proceeds of CAD 8,712,399.6. Agnico Eagle has subscribed for 833,333 common shares of the Company for gross proceeds CAD 499,999.80In connection with the Offering, Azimut has executed an investor rights agreement with Centerra pursuant to which, subject to certain conditions, Centerra will have the right to participate in future equity issuances to maintain its ownership interest in the Company. The transaction includes participation from Centerra Gold Inc. for CAD 5,961,000, Agnico Eagle Mines Limited for CAD 499,999.80, SIDEX LP,Fonds de solidarité FTQ,CDPQ Sodémex Inc and NQ Investissement Minier LP.
The Offering is subject to the final approval by the TSX Venture Exchange. All securities issued under the Offering will have a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities legislation.
