A.I.S. Resources closes $843,800 private placement

Jul 9, 2021

2021-07-09 09:34 ET – News Release

Mr. Phillip Thomas reports

A.I.S. RESOURCES CLOSES OVERSUBSCRIBED FINANCING

A.I.S. Resources Ltd. has closed its oversubscribed non-brokered private placement of 10,547,500 units at a price of eight cents per unit for gross proceeds of $843,800. 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 Placement

Each 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 Grant

The 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.

We seek Safe Harbor.

https://aisresources.com/