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A.I.S. Resources Limited Announces Closing of $300,000 Private Placement and TSX Acceptance of Fiedmont, Lac Volant and Lac Manitou Property Acquisition
(via Thenewswire.ca) Vancouver, British Columbia / TheNewswire / A ugust 19, 2016 - A...
About this update from Ais Resources Ltd
[{"type":"text","content":"A.I.S. Resources Limited Announces Closing of $300,000 Private Placement and TSX Acceptance of Fiedmont, Lac Volant and Lac Manitou Property Acquisition(via Thenewswire.ca)\n\n \nVancouver, British Columbia / TheNewswire / August 19, 2016 - A.I.S. RESOURCES LIMITED. (TSX - NEX: AIS.H) (the \"Corporation\" or \"AIS\") is pleased to announce that it has completed the sale of 3,000,000 units (\"Units\") for gross proceeds of $300,000 pursuant to its previously announced non-brokered private placement (the \"Private Placement\"). Each Unit was issued at a price of $0.10 and is comprised of one common share (\"Common Share\") of the Corporation and one half Common Share purchase warrant (\"Warrant\"), with each whole Warrant entitling the holder thereof to acquire one Common Share at a price of $0.20 for a period of one year from the date of closing of the placement 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 Cdn $0.30 for a period of fifteen (15) consecutive trading days, the Company will have the right to accelerate the expiry of the warrants by giving notice to the holders of the warrants that the warrants will expire at 4:30 p.m. (Vancouver time) on a date that is not less than ten (10) business days from the date notice is given. \n\n\n \nThe net proceeds of the Private Placement will be used to finance the acquisition and exploration of the Company's Fiedmont, Lac Volant and Lac Manitou properties and for general working capital purposes. \n\n\n \nAll securities issued under the private placement will be subject to a four month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The private placement has been accepted for filing by the TSX Venture Exchange.\n\n\n \nAIS is also pleased to announce it has received final acceptance from the TSX Venture Exchange for its acquisition of the Fiedmont lithium and Lac Volant and Lac Manitou cobalt properties.\n\n \n \nABOUT THE FIEDMONT PROPERTY\n\n\n \nThe Fiedmont Property encompasses 2,063 hectares (5,097 acres), and is located proximal to the past producing Quebec Lithium Mine, covering the same...