- A.I.S. Resources Limited (AIS) has amended the terms of its option agreement to acquire a 100-per-cent interest in the Bright Gold Project in Australia
- The company has acquired a 60-per-cent interest in the Bright Gold Property for a payment AUD$150,000 cash and the issuance of 10 million shares at C$0.06 per share
- The company has amended the terms of the two 20-per-cent options as follows regarding the deemed price of $0.06 of the share and the number of shares to be issued
- A.I.S. Resources Limited is a company focused on lithium, gold, precious and base metals exploration
- A.I.S. Resources Limited was unchanged at $0.025 at 1:30 PM ET
A.I.S. Resources (AIS) has amended the terms of its option agreement to acquire a 100-per-cent interest in the Bright Gold Project in Australia.
The company has acquired a 60-per-cent interest in the Bright Gold Property for a payment AUD$150,000 cash and the issuance of 10 million shares at C$0.06 per share.
A.I.S. Resources has the option to acquire 100-per-cent interest in the Bright Gold Project by exercising two 20-per-cent options at a pre-determined cost based on the indicated and measured gold mineral resources defined, to be paid 50 per cent in cash and 50 per cent in shares of AIS.
As a result, the company has amended the terms of the two 20-per-cent options as follows:
- the shares shall be issued at a deemed price of $0.06 per share,
- the number of shares to be issued shall not at any time exceed 9.9 per cent of the post-issuance issued and outstanding share capital of AIS on a diluted basis
The Bright Gold Project and surrounds are made up of many major historical workings and recorded production of over 730,000oz from both alluvial and rock mining.
The company has also announced that it intends to extend the term of 27,833,333 warrants expiring on August 18, 2022.
The share purchase warrants were issued pursuant to a private placement of 27,833,333 units accepted for filing by the TSXV on August 19, 2020.
The warrants will be extended for a period of one year until August 18, 2023. The exercise price remains unchanged at $0.08.
A.I.S. Resources Limited is a company focused on lithium, gold, precious and base metals exploration.
A.I.S. Resources Limited was unchanged at $0.025 at 1:30 PM ET.
