Mr. Phillip Thomas reports
A.I.S. RESOURCES ANNOUNCES CLOSING OF $1.25 MILLION FINANCING
A.I.S. Resources Ltd. has closed its non-brokered private placement of 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 24 months from the closing date of the offering at a price of 12 cents per common share. Insiders participated in the aggregate amount of $159,040 for 1,988,000 units. The company shall pay finders' fees totalling $62,640 and shall issue 783,000 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.
About A.I.S. Resources Limited
A.I.S. Resources is focused on precious metal and base metal 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 market achievements. In November, 2020, A.I.S. received TSX Venture Exchange approval to acquire: the Yalgogrin gold project joint venture in New South Wales, Australia; the Fosterville-Toolleen gold project in Victoria, Australia; and the Kingston gold project in Victoria, Australia.
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