Wednesday, October 27, 2021
HomeCompaniesWhy Did Azincourt Energy (AZURF) Stock Go 9% Higher During Last Session?

Why Did Azincourt Energy (AZURF) Stock Go 9% Higher During Last Session?

Stock in Azincourt Energy Corp. [OTCQB:AZURF] shot up 9.43% at its previous close to $0.0766. AZURF stock recorded 1.66M shares in volume compared to its 30-day average volume of 606.79K. Within the last 52 weeks, the value of AZURF stock ranged from $0.0125 to $0.1423. Following the availability of the stock’s shares for electronic clearing, AZURF stock gained traction.


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How will AZURF shares be traded?

In addition to uranium and lithium, Azincourt Energy is working to develop a growing stock of clean energy resources, including uranium, lithium, and other essential elements. AZURF has two uranium-lithium projects under development in Peru: the Escalera Group uranium-lithium project on the Picotani Plateau and the East Preston uranium project in Saskatchewan.

Azincourt Energy announced that electronic clearing and settlement of its common shares will be made available through the Depository Trust Company (DTC).

  • The Depository Trust & Clearing Corp. (DTCC) manages the electronic clearing and settlement of publicly traded companies in the United States through DTC.
  • On OTC Markets, AZURF’s common shares will continue to trade under its ticker symbol “AZURF”, which is now fully DTC eligible.
  • DTC eligibility simplifies the process of trading and transferring AZURF’s common shares between brokerages in the United States by utilizing an electronic method for clearing securities.
  • AZURF shares are fully tradeable in the US now that they are OTCQB upgraded and DTC eligible.
  • Gaining full accessibility was an important goal of AZURF as the uranium sector continues to grow and become more visible to investors.
  • AZURF wants to reach a wider audience in the US and is in a good position to do so.

Azincourt Energy announced this week that the final tranche of its non-brokered private placement had been completed. The AZURF has issued 17,071,428 non-flow-through shares and 6,666,667 flow-through shares in connection with closing of the final tranche. For NFT units, the price was $0.07, whereas for FT units, the price was $0.075. Each NFT Unit and FT Unit consists of one common share and a share purchase warrant giving the holder the right to acquire an additional common share at a price of $0.10 until October 12, 2024.

How much did AZURF raise?

Azincourt Energy (AZURF), together with its earlier tranche, raised gross proceeds of $8,100,000 from the sale of 77,877,416 NFT Units, 17,600,126 FT Units and 14,285,714 charity flow-through units. AZURF has increased the gross proceeds from September 22, 2021 by an additional $500,000 by closing the final tranche of the placement. The gross proceeds of the issuance of the FT Units will go towards Canadian exploration expenses. The renunciation will take effect by December 31, 2021.

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