A.I.S. Resources Announces Closing of Heavily Oversubscribed Financing
Since 1967
TSX-V: AIS A.I.S. Resources Limited
Page 1 of 2
A.I.S. Resources Announces Closing of Heavily Oversubscribed Financing
Vancouver, British Columbia – December 1, 2020 – A.I.S. Resources Limited (TSX-V – AIS, OTCQB:
AISSF) (the “Company” or “AIS”) announces that it has closed its oversubscribed non-brokered Private
Placement of 18,970,000 Units at $0.07 per unit for gross proceeds of to $1,327,900.
Martyn Element Chairman stated, “I am so pleased due to the significant over subscription of this
financing. We are now able to aggressively explore our extensive land packages in the Fosterville-
Toolleen area of the exciting gold rich Bendigo zone in Victoria, Australia and the Yalgogrin, Lachlan
Fold, NSW.”
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 $0.10 per common share. If the closing price of the common
shares of the Company on any stock exchange or quotation system on which the common shares are
listed or quoted is equal to or greater than $0.15 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. Insiders participated in the aggregate amount of
$86,345 for 1,233,500 units. The Company shall pay finders fees totaling $24,920 and issue 356,000
finders warrants.
Closing of the Private Placement is subject to final acceptance by the TSX Venture Exchange. All
securities issued or issuable in connection with the Private Placement will be subject to a four-month
hold period from the closing date under applicable Canadian securities laws.
The proceeds will be used for acquisition and exploration of the Company’s Australian gold projects and
general working capital purposes.
Phil Thomas CEO stated, “This capital raising is a significant vote of confidence in our team and the
quality of our exploration licences in Victoria. It is the start of our trajectory to become a major explorer
in the Fosterville-Toolleen area. We are also preparing for geophysics at Yalgogrin, NSW and
geochemistry at Kingston, that we expect will expand our gold targets. The warrants give us a level of
comfort for future funding as we achieve progress.”
About A.I.S. Resources Limited
A.I.S. Resources Limited is a publicly traded issuer listed on the TSX Venture Exchange focused on
precious and base metals exploration. AIS’s 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
Since 1967
TSX-V: AIS A.I.S. Resources Limited
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venture partners and enhancing the value of its portfolio. The Company is managed by a team of
experienced mining and geological professionals, with a track-record of successful capital markets
achievements. In November 2020, AIS acquired the NSW Yalgogrin Gold Project JV, the Fosterville-
Toolleen Gold Project and the Kingston Gold Project in Victoria Australia.
For further information, please contact:
Phillip Thomas, Chief Executive Officer
Tel: +1-747-200-9412
Email: [email protected]
Or
Martyn Element, Executive Chairman
Tel: +1-604-220-6266
Email: [email protected]
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.