AIS Resources Limited Announced Closing of 1ST Tranche of Financing
TSX-NEX: AIS.H
AIS RESOURCES LIMITED ANNOUNCED CLOSING OF 1ST TRANCHE OF FINANCING
VANCOUVER, BRITISH COLUMBIA -- August 19, 2015) - A.I.S. RESOURCES LTD. (TSX - NEX: AIS.H) (the "Corporation" or “AIS”) is pleased to announce that it has completed the sale of 4,915,500 units ("Units") for gross proceeds of $491,550 pursuant to its previously announced non-brokered private placement (the "Private Placement"). Each Unit was issued at a price of $0.10 and is comprised of one common share ("Common Share") of the Corporation and one full Common Share purchase warrant ("Warrant"), with each whole Warrant entitling the holder thereof to acquire one Common Share at a price of $0.14 for a period of two years from the date of closing. The net proceeds of the Private Placement have been used to finance the investment into Buda Juice, LLC and for general working capital purposes. So far, AIS has invested $499,757 for 4.39% of Buda Juice.
“We look forward to Dallas site visits with potential investors at the end of this month to give them a first-hand look at Buda Juice operations,” states, Martyn Element, President and CEO of AIS. “We look forward to completing the financing so Buda Juice can complete the Dallas market buildout and launch the Las Vegas market.”
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.
Contact:
A.I.S. Resources Limited Martyn Element President and CEO (604) 687-6820 [email protected]