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A.I.S. Resources Announces Private Placment Financing and Amended Loan Financing
VANCOUVER, British Columbia, Nov. 12, 2021 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces a non-broker
About this update from Ais Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 12, 2021 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces a non-brokered private placement of up to 5,000,000 common shares (\"Shares\") at a price of $0.05 per Share for gross proceeds of $250,000 (the \"Private Placement\"). The proceeds will be used for general working capital and exploration of the Company’s gold projects in Australia. The Company may pay finders fees of up to 8% cash and 8% finders warrants on a portion of the placement. Amended Loan Financing Further to the Company’s news release of November 5, 2021 the Company has amended loan agreements for Loans totaling $300,000 as follows: The Loan amount has been increased to $350,000. The Interest rate has been amended to 6% per annum from 3% per annum. In lieu of 1,200,000 bonus shares the lenders shall receive 7 million Bonus Warrants subject to TSX Venture Exchange approval. Each Bonus Warrant will entitle the holder to purchase one common share of the Company at an exercise price of $0.05 per share for one year. The Bonus Warrants will be subject to a trading hold period expiring four months from the date of issue, under applicable securities law. Warrants Extension The Company also announces that it intends, subject to TSX Venture Exchange approval, to extend the term of 18,970,000 warrants expiring on December 1, 2021. The share purchase warrants were issued pursuant to a private placement of 18,970,000 units accepted for filing by the TSXV on November 27, 2020. The warrants will be extended for a period of one year until December 1, 2022. The exercise price remains unchanged at $0.10. Option Grant The Company has granted a total of 1,100,000 incentive stock options to various directors, and consultants of the Company in accordance with the Company’s stock option plan. Each Option is exercisable into one common share of the Company at a price of $0.05 per Share. The Options vested on grant and will expire on November 12, 2026. The stock options granted are subject to the acceptance of the TSX Venture Exchange. About A.I.S. Resources Limited A.I.S. Resources Limited is a publicly traded investment issuer listed on the TSX Venture Exchange focused on precious and base metals exploration. AIS’ value add strategy is to acquire prospective exploration projects and enhance the...