A.I.S. Resources Announces Close Of First Tranche Of Financing And Engagement Of Corporate Finance Consultants

10/05/17 08:10 AM EDT

(TheNewswire)

Vancouver, British Columbia / TheNewswire / October 5, 2017 – A.I.S. Resources Limited (TSX – NEX: AIS.H, OTCQB:AISSF) (the “Company” or “AIS”) is pleased to announce that it has completed the sale of 5,830,000 units (" Units ") for gross proceeds of $1,166,000, the first tranche of the non-brokered private placement announced on August 21, 2017 (the " Private Placement "). The proceeds will be used for an option payment on the Guayatayoc property and for general working capital purposes.

Each unit consists of one common share and one transferrable share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share for a period of 12 months from the closing date of the offering at a price of $0.30 per common share 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 $0.45 for a period of fifteen (15) consecutive trading days, the Company will have the right to accelerate the expiry of the warrants to a date that is not less than ten (10) business days from the date notice is given. The Company will pay finders fees totaling $24,570 and issue 122,850 finders warrants. The Common Shares issued pursuant to the Private Placement and the exercise of the Warrants will be subject to a hold period of four months and one day from the closing date of the Private Placement, in accordance with applicable Canadian securities laws.

AIS is also pleased to announce the engagement of Intercedent Limited as the Company’s corporate finance advisors.

Intercedent was formed in 1988 to design and implement international business development. Intercedent’s primary focus is in Asia and has offices in Beijing, Hong Kong and Singapore. In particular, Intercedent has provided advisory, investment and capital raising services to a broad range of multinational companies, financial institutions, small and medium manufacturing and technology enterprises and junior resource companies.  Intercedent has raised capital for a number of listed resource companies on the TSX Venture Exchange and ASX.

 

On Behalf of the Board of Directors,

 

A.I.S. Resources Limited

Marc Enright-Morin

President and CEO

About A.I.S. Resources

A.I.S Resources Limited a TSX-V listed investment issuer, was established in 1967 and is managed by experienced, highly qualified professionals who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific network, they identify and develop early stage projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s most recent activities have been the exploration of lithium properties in Northern Argentina.

C ontact

A.I.S. Resources Limited

Marc Enright-Morin

President and CEO

T: 778-892-5455

E:  memorin@aisresources.com

W:   www.aisresources.com

ADVISORY:  This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation 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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