AJN RESOURCES INC. (CSE: AJN) (Frankfurt: 5AT) Announces Closing of First Tranche of Financing and Announces Convertible Debenture Financing
AJN RESOURCES INC. (CSE: AJN) (Frankfurt: 5AT) Announces Closing of First Tranche of Financing and
Announces Convertible Debenture Financing
Vancouver, BC, July 24, 2019 – AJN Resources Inc. (CSE: AJN) (Frankfurt: 5AT) (“AJN”) is pleased to
announce it has closed the first tranche of the previously announced financing to raise up to $2 million
at $0.25 per share. Pursuant to the first tranche, AJN has issued 4,545,000 shares at $0.25 per share for
gross proceeds of $1,136,250. The Proceeds will be used for general working capital. All the shares
issued will have a 4 month hold. A finders fee of $14,400 was paid to Nascent Capital Partners Pty Ltd.
AJN is also pleased to announce a convertible debenture financing to raise up to $600,000. The
convertible debentures will be priced at $1000 per convertible debenture and have an interest rate
of 1.9 per cent per annum. Each Convertible Debenture is convertible at any time at the option of the
holder into fully paid Common Shares at the rate of 4,000 Common Shares for each Convertible Debenture
representing a conversion price of $0.25 per share . If the Company’s common shares trade at a closing
price of $1.00 or higher for a period of 10 consecutive trading days, then the Company shall have the right
to require each holder to convert his/her/its Convertible Debentures into fully paid Shares. The Proceeds
will be used for general working capital.
About AJN Resources Inc.
The Company holds an option to acquire a 100% interest in the Salt Wells Lithium Project (the “Property”)
in Churchill County, Nevada, USA, subject to a 4.5% net smelter returns royalty. The Company’s business
objective is to explore for lithium mineraliza tion on the Property. AJN’s management and directors
possess over 75 years of collective industry experience and have been very successful from exploration,
to financing, to developing major mines throughout the world.
www.ajnresources.com
On Behalf of the Board of Directors
Klaus Eckhof
CEO and President