A.I.S. Resources Closes Convertible Debenture Private Placement
A.I.S. Resources Limited 1120 – 789 West Pender Street Vancouver BC V6C 1H2 Canada www.aisresources.com
| A.I.S. Resources Closes Convertible Debenture Private Placement | |
| Vancouver, British Columbia, May 28, 2024 – A.I.S. Resources Limited (TSXV: AIS, OTCPINK: AISSF) (the | |
| “Company” or “AIS”) announces the closing of a private placement of convertible debentures and | |
| detachable warrants for gross proceeds of $195,000. | |
| Principal will be convertible into common shares at $0.05 per common share (the “Conversion Price”) | |
| for a term of one (1) year from the closing date (the “Maturity Date”). The convertible debentures will | |
| bear interest at a rate of 6.0% per annum payable on the Maturity Date. Accrued interest may be paid | |
| in cash or converted to common shares at the Market Price (as defined by the TSXV Exchange) at the | |
| time the accrued interest becomes payable. | |
| 1,950,000 detachable common share purchase warrants (the “Warrants”) will be issued on the closing | |
| date. Each Warrant will be exercisable to acquire one common share of the Company (a “Warrant | |
| Share”) for a period of one (1) year from the closing date at an exercise price of $0.08 per Warrant Share. | |
| The common shares and warrant shares will be subject to a four (4) month hold in accordance with | |
| securities law and TSXV Exchange policies. The private placement is subject to final acceptance by the | |
| TSXV Exchange. Proceeds of the private placement shall be used for loan repayments and general | |
| working capital purposes. |
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 various natural resource opportunities. AIS’s value add strategy is to acquire early-stage projects and provide technical and financial support to enhance their value. The Company is managed by a team of experienced engineers, geologists, and investment bankers, with a track-record of successful capital market achievements.
On Behalf of A.I.S. Resources Limited Andrew Neale President & CEO
Corporate Contact
For further information, please contact:
Martyn Element, Chairman of the Board T: +1-604-220-6266 E: [email protected] Website: www.aisresources.com
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| A.I.S. Resources Lim | ||
| ADVISORY: This press release contains forward-loo | king statements. Although the Company believes that | |
| the expectations reflected in these forward-looking statements are reasonable, undue reliance should | ||
| not be placed on them because the Company can give no assurance that they will prove to be correct. | ||
| Since forward-looking statements address 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 undertakes no obligations to update publicly or revise any | ||
| forward-looking statements or information, whether as a result of new information, future events or | ||
| otherwise, unless so required by applicable securities laws. Neither TSX Venture Exchange nor its | ||
| Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts | ||
| responsibility for the adequacy or accuracy of this release. |
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