By Devika Patel
Knoxville, Tenn., July 9 - AIS Resources Ltd. said it plans a C$1 million non-brokered private placement of convertible preferred shares.
The company will sell 2.5 million preferreds at C$0.40 apiece.
The preferred shares have a five-year term and are convertible at any time into common shares at a fixed conversion rate of two common shares for each preferred share.
Settlement is expected on Aug. 10.
The junior oil and gas company is based in Calgary, Alta.
| Issuer: | AIS Resources Ltd.
|
| Issue: | Preferred shares
|
| Amount: | C$1 million
|
| Maturity: | Five years
|
| Shares: | 2.5 million
|
| Price: | C$0.40
|
| Conversion ratio: | Two common shares per preferred
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | July 8
|
| Settlement date: | Aug. 10
|
| Stock symbol: | TSX Venture: AIS
|
| Stock price: | C$0.145 at close July 8
|
| Market capitalization: | C$580,980
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
