Abcourt Mines Enhances Capital Structure with Warrant Conversions and Lock-Up Agreements

ROUYN-NORANDA, Quebec, Sept. 17, 2026 /CourierPR/ -- Abcourt Mines Inc has significantly enhanced its capital structure through the successful execution of warrant conversions and the implementation of stringent lock-up agreements with key executives. The company has reported that nearly all warrants expiring in September have been exercised, including 100% of those held by insiders. This action has added $3,290,485.00 to the treasury, reducing the remaining balance of warrants maturing in 2026 to less than 21 million units.

The warrant conversions have immediately removed approximately 32% of the company's shares from the public float, aligning key executives' interests with those of Glencore AG, the company's senior secured debt holder. This commitment has been formalized through a lock-up agreement that restricts the sale, transfer, or use of securities by the executives until certain financial milestones are met. The agreement covers approximately 100 million additional convertible securities held by management, ensuring that these securities cannot be exercised unless the debt is repaid.

Pascal Hamelin, President and Chief Executive Officer of Abcourt Mines Inc, stated, "This lock-up agreement and the full exercise of our warrants demonstrate the absolute, long-term commitment of the entire management team to the success of the Sleeping Giant and Flordin projects. By freezing the securities of key individuals until the project's ultimate success, we ensure maximum staff retention and motivation."

The lock-up agreement includes specific exceptions for certain transactions, such as the sale of shares to fund tax obligations, transfers to immediate family members, and the sale of shares in the event of a change of control. The agreement will remain in effect until the later of two years from the amendment agreement with Glencore or ten days after the full cash repayment of at least 75% of the US$40,000,000 debt principal, including interest. In the event of a financial default, the lock-up will be automatically extended.

Abcourt Mines Inc, a Canadian gold development company with properties in northwestern Quebec, has taken these steps to strengthen its capital structure and align the interests of its key executives with those of its shareholders and debt holders. The company's flagship projects, Sleeping Giant and Flordin, are central to its strategic vision and future success.