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Azimut Closes $7 Million Private Placement Financing with Participation of Key Existing Shareholders

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES LONGUEUIL, Quebec, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (TSXV:AZM) (OTCQX:AZMTF) (“Azimut” or the “Company”) is pleased to announce that on August 18, 2026, it closed its previously announced non-brokered private placement (the “Offering”) for total proceeds of approximately $7 million through the issuance of a combination of (a) 6,038,647 common shares of the Company that qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the “FT Shares”) at a price of $0.828 per FT Share for gross proceeds of $5,000,000; and (b) 3,333,332 common shares of the Company (the “Hard Dollar Shares”) at a price of $0.60 per Hard Dollar Share for gross proceeds of $2,000,000. Upon closing of the Offering, the Company has 110,311,289 common shares issued and outstanding.