A.I.S. Resources raises $644,000 via private placement

A.I.S. Resources Limited (TSXV: AIS, OTC-Pink: AISSF) announced a non-brokered private placement of 4,600,000 units at $0.14 per unit, raising gross proceeds of $644,000, according to a press release from the Vancouver-based company.

Each unit consists of one common share and one-half of one transferable share purchase warrant. Each whole warrant allows the holder to purchase one common share at $0.20 per share for three years from the issuance date.

CEO Marc Enright-Morin stated, "We are pleased to welcome Phillip Richards of RAB Capital as a strategic investor as we prepare to advance our New Brunswick projects."

The company said proceeds will be used for exploration of its New Brunswick projects and general working capital. The closing is subject to acceptance by the TSX Venture Exchange. All securities issued will be subject to a four-month hold period under Canadian securities laws.

A.I.S. holds three early-stage exploration projects in New Brunswick: the Saint John Project, the Pocologan Project, and the Frenchmans Creek Project. All three are focused on copper, gold, and silver targets, with potential for iron oxide copper-gold style mineralization.

You May Also Be Interested In

• A.I.S. Resources Engages ICor Drilling Services for Summer Drilling Program
• Ambiq prices upsized public offering at $78 per share
• uniQure prices $225 million public offering at $45.50 per share