Ekeko S.A. Unilaterally Purports to Terminate Option Agreement with AIS
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A.I.S. Resources Limited
1120 – 789 West Pender Street
Vancouver BC V6C 1H2 Canada
www.aisresources.com
Ekeko S.A. Unilaterally Purports to Terminate
Option Agreement with AIS
August 8, 2023
Vancouver, British Columbia – A.I.S. Resources Limited (TSX-V: AIS, FRA: 5YHA ) (the
“Company” or “AIS”) today announced that Ekeko S.A. (Ekeko) has unilaterally declared the
Exploration and Purchase Option Agreement between AIS and Ekeko, dated June 10th, 2021
to be terminated for alleged breach of contract by AIS. AIS rejects the allegation of breach
and rejects Ekeko’s purported termination of the Agreement.
AIS validly exercised the option on Pocitos 1 prior to the contractual deadline of June 30 th.
Furthermore, Ekeko breached the Agreement by (i) refusing in bad faith to honour the
option exercise, and (ii) failing to obtain the mandatory legal certificates to prepare and
execute the Transfer Deed for the Pocitos 1 property, as required under the Agreement.
The Pocitos 1 property was further optioned by AIS to Spey Resources Corp. (CSE: SPEY).
As a result of this breach by Ekeko, AIS was unable to perform its obligations under its
option agreement with Spey. Monies placed in trust by Spey with AIS to complete the option
exercise have been returned to Spey.
Andrew Neale, President & CEO of AIS commented, “We are at a loss to understand the
actions of Ekeko. We proceeded on a good faith basis to live up to our side of the agreement
and believe that AIS is in full compliance with the June 2021 Exploration and Option
Purchase Agreement.”
As a result of the financial harm this has caused AIS, AIS intends to aggressively pursue its
legal remedies in Argentina and takes the position that Ekeko is unable to transfer good
title to the property free from the AIS claim.
About A.I.S. Resources Limited
A.I.S. Resources Limited is a publicly traded investment issuer listed on the TSX Venture
Exchange focused on natural resource opportunities. AIS’s value add strategy is to acquire
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A.I.S. Resources Limited
early-stage projects and provide technical and financial support to enhance their value. The
Company is managed by a team of experienced engineers, geologists, and investment
bankers, with a track-record of successful capital market achievements.
On Behalf of the Board of Directors, AIS Resources Ltd.
Andrew Neale
President & CEO
Email: [email protected]
Website: www.aisresources.com
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.