VANCOUVER, British Columbia, Jan. 27, 2021 (GLOBE NEWSWIRE) – AIS Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that it has completed its un-brokered private placement of 15,625,000 units (“units“) At a price of $ 0.08 per unit for gross proceeds of $ 1,250,000 (the”Private placement“). Proceeds will be used to explore the Company’s gold projects and for general working capital purposes.
Each unit consists of one common share and one transferable share purchase option. Each warrant entitles the holder to purchase one additional common share for a period of 24 months from the closing date of the offering at a price of US $ 0.12 per common share. Insiders participated in the total of $ 159,040 for 1,988,000 units. The company pays a total of $ 62,640 finder fees and issues 783,000 finder warrants.
Completion 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 holding period from the closing date in accordance with applicable Canadian securities laws.
About AIS Resources Limited
AIS Resources Limited is a publicly traded investment issuer, listed on the TSX Venture Exchange, focused on the exploration of precious and base metals. AIS’s value creation strategy is to acquire potential exploration projects and increase their value by better defining mineral resources in order to attract joint venture partners and increase the value of its portfolio. The company is managed by a team of experienced geologists who have had successful capital markets. In November 2020, AIS received TSX-V approval to acquire the New South Wales Yalgogrin Gold Project JV, the Fosterville-Toolleen Gold Project and the Kingston Gold Project in Victoria, Australia.
Phillip Thomas
Chairman
AIS Resources Limited
For more information please contact:
Phillip Thomas, CEO
Tel .: + 1-747-200-9412
Email: pthomas@aisresources.com
Or
Martyn Element, chairman of the board
Tel .: + 1-604-220-6266
Email: melement@aisresources.com
Website: www.aisresources.com
ADVICE:This press release contains forward-looking statements. In particular, this press release contains statements regarding the anticipated use of the proceeds from the private placement. While the company believes that the expectations contained in these forward-looking statements are reasonable, undue reliance should not be placed on them as the company has no assurance that they will prove to be correct. Because forward-looking statements relate to future events and conditions, they inherently involve risks and uncertainties. The Company’s intended use of the proceeds from the private placement may change if the Company’s Board of Directors determines that it is in the best interests of the Company to use the proceeds for any other purpose. The forward-looking statements contained in this press release speak as of the date of this press release. The company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or for any other reason, except as required by applicable securities laws. Neither the TSX Venture Exchange nor its regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
