AJN RESOURCES INC. (CSE: AJN) (Frankfurt: 5AT) Announces Closing of Oversubscribed Financing
AJN RESOURCES INC. (CSE: AJN) (Frankfurt: 5AT) Announces Closing of Oversubscribed Financing
Vancouver, BC, February 24, 2020 - AJN Resources Inc. (CSE: AJN) (Frankfurt: 5AT) (“AJN”) is pleased to
announce it has closed the previously announced financing to raise $2 million at $0.40 per share. The
financing was oversubscribed. AJN has issued 5,000,000 shares at $0.40 per share for gross proceeds of
$2,000,000. The proceeds will be used for general working capital. All shares issued will have a 4-month
hold period. Finders’ fees of $12,000 were paid to Nascent Capital Partners Pty Ltd, $8,400 to Haywood
Securities Inc., $6,750 to Sprott Global Resource Investments Ltd., $6,000 to Hartleys Limited and $1,950
to Richardson GMP Limited.
AJN is also pleased to announce that it is making good progress with its due diligence on all
projects stated in the Memorandum of Understand (MoU) , announced on February 6, 2020, and is
efficiently working together with Société Minière de Kilo-Moto SA (SOKIMO) to help them monetize
their assets in public markets in the upcoming months. Closing of the transaction with SOKIMO is
subject to legal and technical due diligence, and regulatory approval. Upon closing, AJN will become a
60% owned subsidiary of SOKIMO.
AJN also issued 225,000 stock options exercisable at 80 cents for five years to consultants and directors
of AJN.
About SOKIMO
SOKIMO is a Democratic Republic of The Congo (“DRC”) state owned parastatal entity that has been
involved in the research, development and treatment of precious mineral deposits, as well as the joint
venturing of several projects and deposits and sale of processed product.
About AJN Resources Inc.
AJN is a junior exploration company. 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 with a focus on Africa and especially the Democratic Republic of The Congo
DRC.
For further information, please contact Investor Relations:
Sheena Eckhof
Director, Investor Relations
Visit us at www.ajnresources.com
TEL: (778) 218-9638
On Behalf of the Board of Directors
Klaus Eckhof
CEO and President
Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about
management’s view of future events, expectations, plans and prospects that constitute forward
looking statements. These statements are based upon assumptions that are subject to
significant risks and uncertainties. Because of these risks and uncertainties and as a result of a
variety of factors, the actual results, expectations, achievements or performance may differ
materially from those anticipated and indicated by these forward looking statements. Although
AJN Resources Inc. believes that the expectations reflected in forward looking statements are
reasonable, it can give no assurances that the expectations of any forward looking statements
will prove to be correct. Except as required by law, AJN Resources Inc. disclaims any intention
and assumes no obligation to update or revise any forward looking statements to reflect actual
results, whether as a result of new information, future events, changes in assumptions, changes
in factors affecting such forward looking statements or otherwise.