Business
A.I.S. Resources Announces Close of Second Tranche of Financing and Appointment of Director
(via TheNewswire) Vancouver, British Columbia / TheNewswire / November 1, 2017 - A.I.S...
About this update from Ais Resources Ltd
[{"type":"text","content":"A.I.S. Resources Announces Close of Second Tranche of Financing and Appointment of Director(via TheNewswire)\n\n \nVancouver, British Columbia / TheNewswire / November 1, 2017 - A.I.S. Resources Limited (TSX - NEX: AIS.H, OTCQB: AISSF) (the \"Company\" or \"AIS\") is pleased to announce that it has completed the sale of 14,170,000 units (\"Units\") for gross proceeds of $2,834,000, the second tranche of the $4,000,000 non-brokered private placement announced on October 18, 2017 (the \"Private Placement\"). The proceeds will be used for exploration on the Guayatayoc property and for general working capital purposes.\n\n\n \nEach unit consists of one common share and one transferrable 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 $0.30 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 $0.45 for a period of fifteen (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 ten (10) business days from the date notice is given. The Company will pay finders fees totaling $129,395 and issue 646,975 finders warrants. The Common Shares issued pursuant to the Private Placement and the exercise of the Warrants will be subject to a hold period of four months and one day from the closing date of the Private Placement, in accordance with applicable Canadian securities laws. Closing is subject to final acceptance by the TSX Venture Exchange.\n\n\n \nAIS is also pleased to announce the appointment of Anthony Balme FCA (member ICAEW) to its board of directors. Mr. Balme is the Chairman of Carter Capital Ltd, a private mining finance business, and AMC Ltd a family company in insurance underwriting and investment activities. He is Chairman of Forum Uranium Corp, a TSX.V listed company and Ortac Resources a gold and copper exploration company listed on AIM.\n\n\n \n\n\n\n \nOn Behalf of the Board of Directors,\n\n\n \nA.I.S. Resources Limited\n\n\n \nMarc Enright-Morin \n\n\n \nPresident and CEO\n\n\n \nAbout A.I.S. Resources\n\n\n \nA.I.S Resources Limited a TSX-V listed inve...