A.I.S. Resources Limited Announces Proposed Private Placement
March 21 2014 - 2:29PM
Marketwired
A.I.S. Resources Limited Announces Proposed Private Placement
CALGARY, ALBERTA--(Marketwired - Mar 21, 2014) - A.I.S.
RESOURCES LTD. (TSX-VENTURE:AIS.H) (the "Corporation") is pleased
to announce that it intends to complete a non-brokered private
placement (the "Private Placement") of up to 1,500,000 units
("Units") of the Corporation at a price of $0.20 per Unit for
aggregate gross proceeds of up to $300,000. Each Unit will be
comprised of one common share ("Common Share") of the Corporation
and one-half of one Common Share purchase warrant ("Warrant"), with
each whole Warrant entitling the holder thereof to acquire one
Common Share at a price of $0.50 for a period of one year from the
date of closing of the Private Placement. The net proceeds of the
Private Placement will be used to finance the investigation and due
diligence of potential transactions that result in the reactivation
of the Corporation and for general working capital purposes.
The Private
Placement is anticipated to close in April 2014; however,
completion is subject to certain conditions, including approval of
the NEX Board of the TSX Venture Exchange (the "NEX") to the
listing of the Common Shares (including the Common Shares
underlying the Warrants) on the NEX. The Common Shares and
Warrants, including the Common Shares underlying the Warrants, will
be subject to a hold period ending four months and a day from the
date of closing. In connection with the Private Placement the
Corporation may pay a cash commission or finder's fee of up to 10%
of the gross proceeds of the Private Placement.
ADVISORY: This
press release contains forward looking statements. More
particularly, this press release contains statements concerning the
anticipated closing date of the Private Placement and 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 closing
of the Private Placement could be delayed if the Corporation is not
able to obtain the necessary regulatory and stock exchange
approvals on the timelines it has planned. The Private Placement
will not be completed at all if these approvals are not obtained or
some other condition to the closing is not satisfied. Accordingly,
there is a risk that the Private Placement will not be completed
within the anticipated time or at all. 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.
A.I.S. Resources LimitedMartyn ElementPresident and Chief
Executive Officer(604) 687-6820Martyn@idmail.com
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