A.I.S. Resources Announces Loan Extensions
18 Novembro 2022 - 10:52PM
A.I.S. Resources Limited (TSX.V: AIS, OTCQB: AISSF) (the “Company”
or “AIS”) announces that it has agreed in principle with two
arms-length lenders to extend by five months the term of the
lenders’ loans to the Company.
The Company entered into loan agreements with
the arms-length lenders in November, 2021 for loans in the
aggregate amount of $250,000, maturing one year from the date of
the respective loan agreements. The loans bore interest at the rate
of 6% per annum. An aggregate of 3,000,000 common share purchase
warrants were issued in connection with the loans, expiring
concurrently with the term of the loans.
The lenders have agreed to extend the term of
their respective loans for a period of five months, at an interest
rate of 9.5% per annum.
In consideration of the loan extensions, the
Company will grant an aggregate of 8,333,333 Bonus Warrants to the
lenders. Each Bonus Warrant will entitle the holder to purchase one
common share of the Company at an exercise price of $0.03 per share
for one year. The Bonus Warrants and underlying common shares will
be subject to a trading hold period expiring four months from the
date of issue, under applicable securities law.
The loan extension and warrant issuance are
subject to TSXV acceptance.
About A.I.S. Resources
LimitedA.I.S. Resources Limited is a publicly traded
investment issuer listed on the TSX Venture Exchange focused on
lithium, gold, precious and base metals exploration. AIS’ value add
strategy is to acquire prospective exploration projects and enhance
their value by better defining the mineral resource with a view to
attracting joint venture partners and enhancing the value of our
portfolio. The Company is managed by a team of experienced
geologists and investment bankers, with a track-record of
successful capital markets achievements.
AIS owns 100% of the 28 sq km
Fosterville-Toolleen Gold Project located 9.9 km from Kirkland
Lake’s Fosterville gold mine, a 60% interest in the 57 sq km Bright
Gold Project (with the right to acquire 100%), a 40% interest in
the 58 sq km New South Wales Yalgogrin Gold Project, and 100%
interest in the 167 sq km Kingston Gold Project in Victoria
Australia near Stawell and Navarre. AIS has a 20% joint venture
interest with Spey Resources Corp. in the Incahuasi lithium brine
project in Argentina. AIS has further options to acquire four
lithium concessions in the Pocitos Salar and one lithium concession
in the Cauchari Salar in Argentina. AIS has granted the option to
acquire the Pocitos 1 and 2 licences to Spey Resources by June 30,
2023. If exercised AIS will retain a 7.5% royalty. AIS has granted
an option to acquire an 80% interest in the Pocitos 7 and 9
licences to C29 Resources by June 30, 2023.
On Behalf of the Board of Directors,A.I.S.
Resources Limited
Martyn ElementPresident, CEO, Chairman
Corporate ContactFor further information, please
contact:Martyn Element. ChairmanT:
+1-604-220-6266E:melement@aisresources.comWebsite:www.aisresources.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
ADVISORY: This press release contains
forward-looking 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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