06:18 AM EDT, 04/19/2024 (MT Newswires) -- Azincourt Energy Corp. ( AZURF ) said on Thursday that it will raise up to $375,000 in a non-brokered private placement for the drilling, exploration, and development of the Preston property in the Athabasca region of Saskatchewan and the Big Hill lithium project in southwestern Newfoundland.

The offering comprises flow-through units that will cost $0.035 apiece and are comprised of one flow-through common share and one common share purchase warrant. Each warrant can be exercised for 36 months from the date of issue at $0.05 for one common share.

The company's stock plunged 16.7% in Canada yesterday.