The TSX Venture Exchange has accepted for filing a sale and purchase agreement dated Nov. 13, 2020, between AIS Resources Ltd. and Connor Coote Mining (the vendor), whereby the company may acquire exploration licence 006318 for the Kingston property in the Morrl Morrl state forest, located northeast of Stawell in western Victoria in Australia. The licence excludes the prospecting licence PL0007020, located within the exploration licence. Consideration is $250,000 (Australian) and four million units. Each unit comprises one share and one common share purchase warrant, exercisable at a price of 15 cents for a period of five years. The vendors retain a 1-per-cent net smelter return (NSR) royalty to a maximum of 50,000 ounces of gold. The company will receive 15 per cent of gold sales revenue from the vendor's mining activities on the property outside the boundaries of prospecting licence PL0007020.
For more information, refer to the company's news releases dated Sept. 18, 2020, and Nov. 17, 2020.
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