- AIS Resources (TSXV:AIS) will undertake a C$644,000 non-brokered private placement, including participation from Phillip Richards of RAB Capital.
- The junior miner is led by a team of experienced engineers, geologists and finance professionals with a proven history of value creation in the capital markets.
- AIS Resources stock last traded at C$0.19 and has added 533.33 per cent year-over-year.
Junior miner AIS Resources (TSXV:AIS) will undertake a C$644,000 non-brokered private placement, including participation from Phillip Richards of RAB Capital, a private, fundamentals-based investment company active in the small-cap space.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
Proceeds will be used to top up working capital and advance AIS’s projects in New Brunswick, including:
- The Saint John project, which is prospective for iron oxide copper gold (IOCG) mineralization based on numerous exploration targets backed by polymetallic samples worth follow-up work.
- The Pocologan project, a 21.5-kilometre exploration-stage asset featuring several zones where historical surface prospecting reportedly outlined copper, gold and silver mineralization. The project benefits from established infrastructure, including a skilled workforce, nearby highways and rail, power access and deep-water port facilities at Saint John.
- The Frenchmans Creek project, a district-scale copper, gold and silver exploration project guided by well-mineralized surface prospecting meriting systematic verification.
AIS will issue 4.6 million units priced at C$0.14, with each unit composed of one AIS common share and one-half of one transferable share purchase warrant, and each warrant affording the holder the right to purchase one common share for C$0.20 for three years from the issuance date.
All securities issued will be subject to a four-month hold period as required by Canadian securities law.
The capital raise follows recently released overlimit assay results from the New Brunswick projects, featuring samples grading as high as 3.28 per cent copper, 9.97 grams per ton of gold, as well as significant readings for antimony, cobalt and molybdenum, each of which adds conviction to the case for systematic exploration.
Leadership commentary
“The overlimit assay results have exceeded our expectations and represent an important milestone in advancing our New Brunswick projects,” Marc Enright-Morin, Chief Executive Officer of AIS Resources, said in a statement. “These results provide further evidence of a highly mineralized system and reinforce our belief in the district-scale potential of the properties. Although exploration is still in the early stages and results remain selective, the data supports accelerating our technical work programs to generate and prioritize high-quality targets for follow-up exploration.”
About AIS Resources
AIS Resources is a junior miner led by a team of experienced engineers, geologists and finance professionals with a proven history of value creation in the capital markets.
AIS Resources stock (TSXV:AIS) last traded at C$0.19 and has added 533.33 per cent year-over-year.
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