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AIS Resources Ltd
Symbol AIS
Shares Issued 117,472,909
Close 2021-01-07 C$ 0.08
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A.I.S. Resources arranges $1.25M private placement

2021-01-07 19:54 ET - News Release

Mr. Phillip Thomas reports

A.I.S. RESOURCES ANNOUNCES FINANCING

A.I.S. Resources Ltd. has arranged a non-brokered private placement of up to 15,625,000 units at a price of eight cents per unit for gross proceeds of $1.25-million. The proceeds will be used for exploration of the company's gold projects and general working capital purposes.

Each unit consists of one common share and one transferable share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share for a period of 12 months from the closing date of the offering at a price of 12 cents per common share provided that if the closing price of the common shares of the company on any stock exchange or quotation system on which the common shares are then listed or quoted is equal to or greater than 15 cents for a period of 15 consecutive trading days, the company will have the right to accelerate the expiry of the warrants to a date that is not less than 10 business days from the date notice is given. The company may pay finders' fees of up to 8-per-cent cash and 8-per-cent finders' warrants on a portion of the placement.

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.

Certain directors and officers may participate in the private placement. Such participation is considered a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The related party transaction will be exempt from minority approval, information circular and formal valuation requirements pursuant to the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the gross securities to be issued under the private placement nor the consideration to be paid by the insiders will exceed 25 per cent of the company's market capitalization. A material change report will be filed less than 21 days before the closing date of the transactions contemplated by this news release. The company believes this shorter period is reasonable and necessary in the circumstances.

About A.I.S. Resources Ltd.

A.I.S. Resources is a publicly traded investment issuer listed on the TSX Venture Exchange focused on precious and base metals exploration. A.I.S.'s 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 its portfolio. The company is managed by a team of experienced geologists, with a record of successful capital markets achievements. In November, 2020, A.I.S. received TSX-V approval to acquire the New South Wales Yalgogrin gold project joint venture, the Fosterville-Toolleen gold project and the Kingston gold project in Victoria, Australia.

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