A.I.S. Resources Limited Announces Closing of Second Tranche of Private Placement
May 15 2014 - 4:30PM
Marketwired
A.I.S. Resources Limited Announces Closing of Second Tranche of
Private Placement
CALGARY, ALBERTA--(Marketwired - May 15, 2014) - A.I.S.
RESOURCES LTD. (TSX-VENTURE:AIS.H) (the "Corporation") is pleased
to announce that it has completed the sale of an additional 200,000
units ("Units") for additional gross proceeds of $40,000 pursuant
to its previously announced non-brokered private placement (the
"Private Placement"). Each Unit was issued at a price of $0.20 and
is comprised of one common share ("Common Share") of the
Corporation and one-half of one Common Share purchase warrant
("Warrant"), with each whole Warrant entitling the holder thereof
to acquire one Common Share at a price of $0.50 for a period of one
year from the date of closing. The net proceeds of the Private
Placement will be used to finance the investigation and due
diligence of potential transactions that result in the reactivation
of the Corporation and for general working capital purposes.
The Common Shares and Warrants issued pursuant to the closing of
the second tranche, including the Common Shares underlying the
Warrants, are subject to a hold period ending September 15,
2014.
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.
A.I.S. Resources LimitedMartyn ElementPresident and Chief
Executive Officer(604) 687-6820Martyn@idmail.com