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A.I.S. Resources Announces Private Placement Financing

VANCOUVER, British Columbia, Oct. 18, 2024 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited ((TSX.V: AIS, OTC:AISSF) ("AIS" or the "Company") announces a non-brokered private placement of up to 8,600,000 Units at a price of $0.035 per Unit for gross proceeds of $301,000 (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.

Each Unit consists of one common share and one transferable share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share for a period of 2 years from the closing date of the offering at a price of $0.05 per common share.

Closing of the Private Placement is subject to acceptance by the TSX Venture Exchange. All securities issued in connection with the Private Placement will be subject to a four-month hold period from the closing date under applicable Canadian securities laws.

Certain directors and officers may participate in the Private Placement. Such participation is considered a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The related party transaction will be exempt from minority approval, information circular and formal valuation requirements pursuant to the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the gross securities to be issued under the Private Placement nor ...