A.I.S. Resources Limited announced a private placement of convertible debentures and detachable warrants for gross proceeds of CAD 195,000 on May 28, 2024. Principal will be convertible into common shares at CAD 0.05 per common share for a term of one year from the closing date. The convertible debentures will bear interest at a rate of 6% per annum payable on the Maturity Date.

Accrued interest may be paid in cash or converted to common shares at the Market Price at the time the accrued interest becomes payable. The debentures will mature on May 28, 2025. 1,950,000 detachable common share purchase warrants will be issued on the closing date.

Each Warrant will be exercisable to acquire one common share of the company for a period of one year from the closing date at an exercise price of CAD 0.08 per warrant share. The common shares and warrant shares will be subject to a four month hold in accordance with securities law and TSXV Exchange policies. The private placement is subject to final acceptance by the TSXV Exchange.