A.I.S. Resources Closes Oversubscribed Financing
July 09 2021 - 08:00AM
A.I.S. Resources Limited (TSXV: AIS, OTCQB: AISSF) (the
“Company” or “AIS”) announces the Company has closed its
oversubscribed non-brokered private placement of 10,547,500 units
(“Units“) at a price of $0.08 per unit for gross proceeds of
$843,800 (the “Private Placement“). The proceeds will be used for
exploration of the Company’s Australian gold projects and for
general working capital purposes.
Martyn Element, Chairman of the Board stated,
“We are pleased to close this oversubscribed placement. The funds
will enable us to aggressively pursue our exploration and
development program on our highly prospective Australian gold
properties.”
In the next week the Company will provide an
in-depth update of its Australian gold properties and its
Argentinian lithium option agreement with Spey Resources. AIS has
granted an option to Spey Resources Corp. to acquire up to 100% of
the Candela II and Pocitos 1 and 2 lithium claims by making options
payments and completing certain exploration expenditures.
Private PlacementEach Unit
consists of one common share and one transferrable share purchase
warrant. Each warrant will entitle the holder to purchase one
additional common share at a price of $0.12 per common share for a
period of 24 months from the closing date of the offering. Insiders
participated in the aggregate amount of $69,000 for 862,500 units.
The Company shall pay finders fees totalling $41,920 and shall
issue 524,000 finders warrants.
Closing of the Private Placement is subject to
acceptance by the TSX Venture Exchange. All securities issued in
connection with the Private Placement will be subject to a
four-month hold period from the closing date under applicable
Canadian securities laws.
Option GrantThe Company has
granted a total of 2,500,000 incentive stock options to various
directors, and consultants of the Company in accordance with the
Company’s stock option plan. Each Option is exercisable into one
common share of the Company at a price of $0.08 per Share. The
Options vested on grant and will expire on July 9, 2026. The stock
options granted are subject to the acceptance of the TSX Venture
Exchange.
About A.I.S. Resources
Limited
A.I.S. Resources Limited is a publicly
traded investment issuer listed on the TSX Venture Exchange focused
on precious and base metals exploration. AIS’ value add strategy is
to acquire prospective exploration projects and enhance their value
by better defining the mineral resource with a view to attracting
joint venture partners and enhancing the value of our portfolio.
The Company is managed by a team of experienced geologists and
investment bankers, with a track-record of successful capital
markets achievements.
AIS owns 100% of the 28 sq km
Fosterville-Toolleen Gold Project located 12 km from Kirkland
Lake’s Fosterville gold mine (subject to completion of certain
exploration expenditures), a 60% interest in the 58 sq km New South
Wales Yalgogrin Gold Project (with the right to acquire 100%), and
100% interest in the 167 sq km Kingston Gold Project in Victoria
Australia near Stawell.
On Behalf of the Board of Directors,A.I.S. Resources Ltd.Phillip
Thomas, President & CEO
Corporate ContactFor further information,
please contact:Phillip Thomas, Chief Executive OfficerT: +1-323
5155 164E: pthomas@aisresources.comOrMartyn
Element. ChairmanT:
+1-604-220-6266E: melement@aisresources.comWebsite: www.aisresources.com
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.ADVISORY: This press
release contains forward-looking statements. Although the Company
believes that the expectations reflected in these forward-looking
statements are reasonable, undue reliance should not be placed on
them because the Company can give no assurance that they will prove
to be correct. Since forward-looking statements address future
events and conditions, by their very nature they involve inherent
risks and uncertainties. The forward-looking statements contained
in this press release are made as of the date hereof and the
Company undertakes no obligations to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities laws. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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