A.I.S. Resources Announces a 1-for-10 Reverse Stock Split
March 05 2024 - 8:00AM
The Board of A.I.S. Resources Limited (TSX-V: AIS, OTCQB:
AISSF, FRA: 5YHA) (the “Company” or “AIS”) wishes to announce
the decision to proceed with a 1-for-10 reverse stock split, also
known as a stock consolidation, stock merge, or share rollback,
applicable to all issued shares and outstanding warrants and
options.
Effective at the commencement of trading on
March 8, 2024 the Company is expected to begin trading on the TSX
Venture Exchange on a post-consolidated basis under the stock
symbol “AIS”. The new CUSIP and ISIN are 001431303
and CA0014313039, respectively.
Andrew Neale, President & CEO of AIS commented,
“This decision will better position the Company to develop its
existing assets and evaluate other investment opportunities that
have recently be presented to the Company. This decision has not
been taken lightly, and is a necessary first step in the corporate
restructuring of AIS that has been discussed in detail between
myself and the board. We wish to remind our shareholders that this
action doesn’t impact the overall market capitalization of the
Company.”
As of March 5, 2024, AIS has 204,215,409 shares
issued, 10,401,667 options issued, and 26,300,000 warrants issued,
for a fully diluted total of 240,917,076. After the Consolidation
there will be approximately 20,421,540 common shares issued and
outstanding. The Company will not be issuing fractional
post-Consolidation common shares to shareholders in connection with
the Consolidation. Where the Consolidation would otherwise result
in a shareholder being entitled to a fractional common share, the
number of post-Consolidation common shares issued to such holder of
common shares shall be rounded up to the next greater whole number
of common shares if the fractional entitlement is equal to or
greater than 0.5 and shall be rounded down to the next lesser whole
number of common shares if the fractional entitlement is less than
0.5. In calculating such fractional interests, all common shares
held by a beneficial holder shall be aggregated. The exercise or
conversion price and the number of common shares issuable under any
of the Company's outstanding stock options and warrants will be
proportionately adjusted to reflect the Consolidation in accordance
with the respective terms thereof.
No action is required from shareholders who are
holding their shares in AIS in a conventional brokerage account.
Those holding paper certificates will need to present those to AIS
and have a new certificate issued.
About A.I.S. Resources
LimitedA.I.S. Resources Limited is a publicly traded
investment issuer listed on the TSX Venture Exchange focused on
lithium, gold, and other natural resource opportunities. AIS’s
value add strategy is to acquire 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 A.I.S. Resources LimitedAndrew
NealePresident & CEO
Corporate ContactFor further
information, please contact:Martyn Element, Chairman of the BoardT:
+1-604-220-6266E: melement@aisresources.comWebsite: 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.
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