Azimut Announces a $6,000,000 Private Placement

Symbol: AZM.TSX Venture

LONGUEUIL, QC, Sept. 3, 2020 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut") (TSXV: AZM) is pleased to announce its intent to proceed with a private placement of 3,333,335 common shares at a price of $1.80 per share for aggregate proceeds of $6,000,003.

The securities will be subject to a statutory hold period of four (4) months. This private placement is subject to the final approval of the TSX Venture Exchange.

The proceeds will be used to conduct exploration work on the 100%-owned Elmer Property (gold), to carry out other exploration work, and for business development and general corporate purposes.

About Azimut

Azimut is a mineral exploration company whose core business is centred on target generation and partnership development. The Company uses a pioneering approach to big data analytics (the proprietary AZtechMine^TM expert system) enhanced by extensive exploration know-how. Azimut maintains rigorous financial discipline and has approximately 65.8 million shares outstanding. Azimut's competitive edge against exploration risk is founded on systematic regional-scale data analysis and multiple concurrently active projects.

Neither 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.

SOURCE Azimut Exploration Inc.

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