Aranjin Announces Upsize of Previously Announced Non-Brokered Private Placement
Aranjin Announces Upsize of Previously
Announced Non-Brokered Private Placement
Ulaanbaatar, Mongolia--(Newsfile Corp. - July 13, 2023) - Aranjin Resources Ltd.
(TSXV: ARJN)
(the
"
Company
")
is pleased to announce that due to interest from potential investors its previously
announced non-brokered private placement has been increased by $100,000 to up to an aggregate total
of 55,000,000 units of the Company (the "
Units
") at an offering price of $0.02 per unit, for gross
proceeds of up to $1,100,000 (the "
Private Placement
"). Each Unit will comprise one common share of
the Company and one common share purchase warrant, with each warrant exercisable for one common
share at a price of $0.05 per share for a period of 24 months from closing. The terms of the Private
Placement and the Units otherwise remain as previously disclosed.
The proceeds of the Private Placement will primarily be used to fund the ongoing exploration program at
the Victory Nickel Discovery where an active exploration program is currently underway. The Company
also plans to complete a deep drill hole on the Bayan Undur Copper Project mining licences.
The Company now anticipates that the Private Placement will close on or about July 17, 2023.
Completion of the Private Placement remains subject to certain conditions including, but not limited to,
the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture
Exchange.
About Aranjin Resources Ltd.
Aranjin Resources is committed to exploring its highly prospective copper and nickel projects in
Mongolia. Information about the Company is available on its website, www.aranjinresources.com, or
under its profile on SEDAR at
www.sedar.com
.
On behalf of the Board
Matthew Wood
Executive Chairman
Aranjin Resources Ltd.
+976 7732 1914
Cautionary Statements
Certain information contained herein constitutes forward-looking information or statements under
applicable securities legislation and rules. Such statements include, but are not limited to, statements
with respect to timing and completion of the Private Placement, use of proceeds from the Private
Placement, future plans, objectives or goals, including words to the effect that the Company or
management expects a stated condition or result to occur. Forward-looking statements are based on the
opinions and estimates of management as of the date such statements are made and are subject to
known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements Aranjin to be materially different from those expressed or implied
by such forward-looking statements, including the final acceptance or rejection of the Private Placement
by regulators; fluctuations in international commodity prices, particularly of nickel and copper; and other
corporate opportunities which the Company may encounter. Although management of Aranjin has
attempted to identify important factors that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such statements will prove to be
accurate. Accordingly, readers should not place undue reliance on forward-looking statements. Aranjin
will not update any forward-looking statements or forward-looking information that are incorporated by
reference herein, except as required by applicable securities laws. The parties caution readers not to
place undue reliance on these forward-looking statements and it does not undertake any obligation to
revise and disseminate forward-looking statements to reflect events or circumstances after the date
hereof, or to reflect the occurrence of or non-occurrence of any events.
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TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
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