Abcourt raises US$10 million debenture financing with Glencore

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ROUYN-NORANDA, Quebec, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“ Abcourt ” or the “ Corporation ”) (TSX-V: ABI) (OTCQB: ABMBF) is pleased to announce that it has entered into a non-binding term sheet with Glencore AG (the “ Lender ”) that will, once the transaction is completed, increase the aggregate principal amount of the senior secured debenture announced on January 30, 2026 from US$30,000,000 to US$40,000,000 (the “ Upsized Debenture ”).

A first tranche of US$18,125,000 was made available to Abcourt on January 30, 2026. Under the Upsized Debenture, the second tranche has been increased from US$11,875,000 to US$21,875,000 and its disbursement date has been accelerated from December 2026 or January 2027 to on or about August 12, 2026.

No other material changes are proposed to the original senior secured debenture. Please see Abcourt’s news release dated January 30, 2026 for further details.

Abcourt intends to use the proceeds from the Upsized Debenture to (i) repay a US$12,000,000 secured credit facility with Nebari Natural Resources Credit Fund II, LP, (ii) fund exploration work and capital expenditures at its Sleeping Giant and Flordin projects and (iii) provide additional working capital.

Pascal Hamelin, President and CEO of Abcourt, commented: “This increased support from Glencore confirms the value of our assets and secures our growth trajectory. By converting short-term debt into long-term liabilities, we optimize our financial structure with a significantly lower interest rate and an extended amortization period. This increased financial flexibility immediately frees up essential capital to support the sustained pace of our development at the Sleeping Giant Mine. Accelerating this financing allows us to propel our exploration efforts and advance the development of our key projects: Sleeping Giant and Flordin. Abcourt now has a solid financial foundation to unlock the full value of its properties in Abitibi and generate sustainable returns for its shareholders.”

In connection with the closing of the Upsized Debenture, the Corporation will issue 46,943,333 non-transferable warrants (the “ Warrants ”) to the Lender. Each Warrant will be exercisable for one common share of the Corporation (a “ Warrant Share ”) at an exercise price of C$0.12 per Warrant Share.

The Upsized Debenture and the issuance of the Warrants are subject to the approval of the TSX Venture Exchange (“ TSXV ”). The Lender is at arm’s length to the Corporation.

The Warrants (and the Warrant Shares issuable upon the exercise thereof) will be subject to a statutory hold period of four months and one day under applicable securities laws. These securities have not been, nor will they be, registered under the U.S. Securities Act, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

ABOUT ABCOURT MINES INC.

Abcourt Mines Inc. is a Canadian gold development company with properties strategically located in northwestern Québec, Canada. Abcourt owns the Sleeping Giant Mine and Mill, as well as the Flordin property, where it focuses its activities.

For more information about Abcourt Mines Inc., please visit our website at www.abcourt.ca and view our filings under Abcourt's profile on www.sedarplus.ca

FORWARD-LOOKING STATEMENTS

Certain information contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by using forward-looking terminology, such as "plans", "aims", "expects", "projects", "intends", "anticipates", "estimates", "could", "should", "likely", or variations of such words and phrases or statements specifying that certain acts, events or results "may", "should", "will" or "be achieved" or other similar expressions. Forward-looking statements, including the expectation of the Corporation with respect to the execution of the binding documentation with respect to the Upsized Debenture and the closing of the transactions contemplated thereby, the expected use of the proceeds from the Upsized Debenture and the approval of the TSXV, are based on Abcourt's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business, economic and uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt's public filings, which are available on SEDAR+ at www.sedarplus.ca . Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, there can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Globe Newswire

August 6, 2026 - 5:05 AM PDT

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