A.I.S. Resources closes $644,000 private placement financing

A.I.S. Resources Limited (TSXV: AIS, OTC-Pink: AISSF, FRA: 5YH) has closed a private placement, raising $644,000 through the sale of 4,600,000 units at $0.14 per unit, according to a press release from the Vancouver-based company.

Each unit consists of one common share and one-half of one transferable share purchase warrant. Each whole warrant allows the holder to purchase one common share at $0.20 per share for three years from the issuance date.

The placement was made to a single strategic investor identified as Phillip Richards. No finders' fees were paid. All securities issued are subject to a four-month hold period under Canadian securities laws.

Proceeds will be directed toward exploration of the company's New Brunswick projects and general working capital. The company holds three early-stage exploration projects in New Brunswick — the Saint John Project, the Pocologan Project, and the Frenchmans Creek Project — each targeting copper, gold, and silver mineralization.

CEO Marc Enright-Morin stated, "This financing enhances our capacity to accelerate exploration and continue building momentum across our projects."

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