AIS Resources Announces Loan Extension, Canadian Business Journal

VANCOUVER, BRITISH COLUMBIA, November 18, 2022 (GLOBE NEWSWIRE) — AIS Resources Limited (TSX.V: AIS, OTCQB: AISSF) (“Company” or “AIS”) has agreed in principle in two divisions We will announce that A long-term lender extends the term of the lender’s loan to us by five months.

In November 2021, the Company entered into loan agreements with independent lenders for loans totaling $250,000 maturing one year from the date of each loan agreement. The loan bore interest at 6% per annum. Common stock purchase warrants totaling 3,000,000 shares were issued in connection with the loan and expired concurrently with the term of the loan.

The lenders have agreed to extend the term of each loan by 5 months at an interest rate of 9.5% per annum.

In consideration of the extension of the loan, the Company grants the Lender a total of 8,333,333 Bonus Warrants. Each Bonus Warrant entitles the holder to purchase one share of the Company’s common stock for one year for him to purchase at an exercise price of $0.03 per share. The Bonus Warrant and the underlying common stock are subject to a trading hold period that expires four months from the date of issuance under applicable securities laws.

Loan extensions and warrant issuances are subject to TSXV approval.

About AIS Resources Limited
AIS Resources Limited is a public investment issuer listed on the TSX Venture Exchange, focused on the exploration of lithium, gold, precious and base metals. AIS’s value-adding strategy aims to win promising exploration projects and increase the value of its portfolio by better defining mineral resources, with the aim of attracting joint his venture his partners to increase the value of our portfolio. is to increase The company is managed by a team of experienced geologists and investment bankers and has a proven track record of success in the capital markets.

AIS has a 100% interest in the 28 sq km Fosterville-Tulleen Gold Project located 9.9 km from the Fosterville Gold Mine on Lake Kirkland and a 60% interest in the 57 sq km Bright Gold Project (with a 100% right to acquire) , owns a 40% interest. 100% interest in the 58 sq km New South Wales Yargogling Gold Project and the 167 sq km Kingston Gold Project in Victoria, Australia near Stawell and Navarre. AIS has a 20% joint venture interest with Spey Resources Corp. in the Incahuasi Lithium Brine Project in Argentina. AIS also has the option to acquire four lithium blocks in Argentina’s Positos salt flats and one lithium block in Argentina’s Caucali salt flats. AIS has granted Spey Resources the option to acquire Pocitos 1 and 2 licenses by June 30, 2023. If exercised, AIS will retain a 7.5% royalty. AIS has granted C29 Resources an option to acquire an 80% interest in the Pocitos 7 and 9 licenses by June 30, 2023.

On behalf of the Board of Directors,
AIS Resources Limited

martin element
Representative Director and President

company contact
For more information, please contact:
Martin element.Chairman
Phone: +1-604-220-6266
E:[email protected]
Website: www.aisresources.com

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

Advisory: This press release contains forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot give any assurance that these statements will prove correct and therefore place undue reliance on them. Shouldn’t. Forward-looking statements address future events or circumstances and, therefore, are inherently subject to risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof, and the Company may not make any forward-looking statements as a result of new information, future events or otherwise. or undertakes no obligation to publicly update or revise the information. Required by applicable securities laws. Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

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