AJN Resources closes $470,000 private placement

Executive Summary

• AJN Resources Inc. has closed a non-brokered private placement raising $470,000 in gross proceeds.
• The company issued 3,916,666 units at a price of $0.12 per unit, with each unit consisting of one common share and one share purchase warrant.
• Proceeds are designated for technical and legal due diligence regarding a potential property acquisition, exploration activities, and working capital.

Key Details

• Gross Proceeds: $470,000
• Net Proceeds: Not explicitly stated, but implied to be slightly less than gross proceeds due to transaction costs.
• Price Per Unit: $0.12
• Total Units Issued: 3,916,666 units
• Unit Composition: Each unit comprises one common share and one share purchase warrant.
• Warrant Terms:
  • Each warrant entitles the holder to purchase one additional common share.
  • Exercise Price: $0.15 per warrant share.
  • Duration: Four-year period.
• Trading Restrictions: Securities issued and any warrant shares are restricted from trading until January 20, 2026.
• Use of Proceeds:
  • Technical and legal due diligence in connection with a possible property acquisition.
  • Exploration on the company's properties.
  • Working capital purposes.
• Transaction Type: Non-brokered private placement.