AIS Resources announces loan financing

VANCOUVER, British Columbia, November 05, 2021 (GLOBE NEWSWIRE) – AIS Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that the Company has entered into loan agreements with certain parties for total loan proceeds of $ 400,000.

Loans totaling $ 300,000 are for one year and bear interest at 3% per year. Pursuant to the loan agreements and upon approval by the TSX Venture Exchange, the lenders will also receive from the Company 1,200,000 free shares at a deemed price of $ 0.05 representing 20% ​​of the total amount of the loans. The Free Shares will be subject to a transaction holding period expiring four months from the date of issue, under applicable securities legislation.

A loan in the amount of $ 100,000 is for a term of one year and bears interest at 6% per year. Upon approval by the TSX Venture Exchange, the lender will also receive 2 million warrants from the Company. Each bonus warrant will allow its holder to purchase one common share of the Company at an exercise price of $ 0.05 per share for one year. Bonus Bonds will be subject to a transaction hold period expiring four months from the date of issue, under applicable securities laws.

The proceeds of the loans will be used for exploration of the Company’s Australian gold properties and for working capital purposes. The Company intends to repay the borrowings through future private placement financings.

About AIS Resources Limited
AIS Resources Limited is a TSX Venture Exchange listed investment issuer focused on precious and base metal exploration. AIS’s value-added strategy is to acquire potential exploration projects and increase their value by better defining the mineral resource with a view to attracting joint venture partners and increasing the value of our portfolio. The Company is managed by a team of experienced geologists and investment bankers, with a history of successful achievements in the capital markets.

AIS owns 100% of the 28 km² Fosterville-Toolleen gold project located 9.9 km from the Kirkland Lake Fosterville gold mine, a 60% interest in the 58 km² Yalgogrin New South Wales gold project ( with the right to acquire 100%), and 100% interest in the 167 km² Kingston gold project in Victoria, Australia, near Stawell and Navarre. It also holds joint-venture interests with Spey Resources Corp in lithium brines in Argentina in the Incahuasi and Pocitos salars.

On behalf of the Board of Directors,
AIS Resources Ltd.
Phillip Thomas, President and CEO

Corporate contact
For more information, please contact:
Phillip Thomas, President and CEO
T: + 1-323 5155 164
E: [email protected]

Or
Martyn element. President
T: + 1-604-220-6266
E: [email protected]
Website: www.aisresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOTICE: This press release contains forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they should not be relied upon because the Company cannot guarantee that they will prove to be correct. Because forward-looking statements deal with future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and the Company assumes no obligation to publicly update or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release..

Source link

About Sharon Joseph

Check Also

Michael O’Neill wants to see ‘best version’ of Tom Edwards as defender returns to Stoke City

Michael O’Neill is hoping to see “the best version” of Tom Edwards when the right-back …

Leave a Reply

Your email address will not be published. Required fields are marked *