Business
AJN Resources Inc. Announces Closing of Oversubscribed C$2 Million Financing
Vancouver, British Columbia--(Newsfile Corp. - February 24, 2020) - AJN Resources Inc. (CSE: AJN) (FSE: 5AT) ("AJN") is pleased to announce it has closed the pr
About this update from Drc Gold Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - February 24, 2020) - AJN Resources Inc. (CSE: AJN) (FSE: 5AT) (\"AJN\") is pleased to announce it has closed the previously announced financing to raise $2 million at $0.40 per share. The financing was oversubscribed. AJN has issued 5,000,000 shares at $0.40 per share for gross proceeds of $2,000,000. The proceeds will be used for general working capital. All shares issued will have a 4-month hold period. Finders' fees of $12,000 were paid to Nascent Capital Partners Pty Ltd, $8,400 to Haywood Securities Inc., $6,750 to Sprott Global Resource Investments Ltd., $6,000 to Hartleys Limited and $1,950 to Richardson GMP Limited. AJN is also pleased to announce that it is making good progress with its due diligence on all projects stated in the Memorandum of Understand (MoU), announced on February 6, 2020, and is efficiently working together with Société Minière de Kilo-Moto SA (SOKIMO) to help them monetize their assets in public markets in the upcoming months. Closing of the transaction with SOKIMO is subject to legal and technical due diligence, and regulatory approval. Upon closing, AJN will become a 60% owned subsidiary of SOKIMO. AJN also issued 225,000 stock options exercisable at 80 cents for five years to consultants and directors of AJN. About SOKIMO SOKIMO is a Democratic Republic of The Congo (\"DRC\") state owned parastatal entity that has been involved in the research, development and treatment of precious mineral deposits, as well as the joint venturing of several projects and deposits and sale of processed product. About AJN Resources Inc. AJN is a junior exploration company. AJN's management and directors possess over 75 years of collective industry experience and have been very successful from exploration, to financing, to developing major mines throughout the world with a focus on Africa and especially the Democratic Republic of The Congo DRC. For further information, please contact Investor Relations: Sheena EckhofDirector, Investor [email protected] Visit us at www.ajnresources.com TEL: (778) 218-9638 On Behalf of the Board of Directors Klaus EckhofCEO and [email protected] Cautionary Note Regarding Forward Looking Statements The information in this news release includes certain information and statements about management's view ...