AJN Resources Inc. Intends to Close $651,700 Private Placement Financing
Vancouver, November 11, 2024 - AJN Resources Inc. (CSE: AJN) (FSE: 5AT) (AJN or the Company) is pleased to announce its intention to close a non-brokered private placement of units (each, a Unit) in the capital of the Company at a price of $0.12 per Unit, for which it received confidential price protection on October 8, 2024. The Company intends to issue a total of 5,430,833 Units at a price of $0.12 per Unit for gross proceeds of $651,700. Each Unit will be comprised of one common share and one share purchase warrant (Warrant), where each Warrant will entitle the holder to purchase one additional common share (Warrant Share) at an exercise price of $0.15 per Warrant Share for a two year period. The Company has agreed to pay a cash finder's fee of $5,400 and issue 45,000 Warrants with respect to the private placement subscription by one of the private placement placees.
The securities to be issued pursuant to the private placement, and any Warrant Shares to be issued on the exercise of Warrants will be subject to a four-month statutory hold period. The Company intends to use the net proceeds of the private placement for property exploration, the acquisition of mineral properties and working capital.
The Company intends to rely on an exemption from the related party requirements of MI 61-101 for the participation by one insider of the Company in the private placement.
About AJN Resources Inc.
AJN is a junior exploration company. AJN's management and directors possess over 75 years of collective industry experience and have been very successful in the areas of exploration, financing and developing major mines throughout the world, with a focus on Africa, especially the Democratic Republic of the Congo.
For further information, please contact Investor Relations:
Sheena Eckhof
Director, Investor Relations
sheena@eckhofconsulting.com
Visit us at www.ajnresources.com
Tel: +44 7496 291547
On Behalf of the Board of Directors
Klaus Eckhof
CEO and President
klauseckhof@monaco.mc
Cautionary Note Regarding Forward-Looking Statements
The information in this news release may include certain information and statements about management's view of future events, expectations, plans and prospects that may constitute forward-looking statements. Forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although AJN Resources Inc. believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, AJN Resources Inc. disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution to United States newswire services or for dissemination in the United States.
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