AJN Resources Raises $345,000 Through Warrant Exercises, Plans $3M Placement

AJN Resources Inc. has successfully completed a warrant exercise incentive program, generating a total of $345,000 from the exercise of 3,450,000 warrants at a price of $0.10 per share. This initiative reflects the company’s ongoing efforts to bolster its financial position as it explores potential property acquisitions and enhances its operational capabilities.

Upon the exercise of these warrants, AJN Resources issued 3,450,000 common shares along with an equal number of incentive warrants. Each incentive warrant allows the holder to purchase an additional common share at an exercise price of $0.30 before October 31, 2029. The proceeds from this exercise will primarily be allocated toward technical and legal due diligence related to prospective property acquisitions, exploration activities, and general working capital needs.

In a related development, AJN Resources has announced its intention to close a non-brokered private placement aiming to raise $3,000,000. The company plans to issue 30,000,000 units at a price of $0.10 per unit. Each unit will consist of one common share and one share purchase warrant, with the latter allowing the holder to purchase one additional common share at an exercise price of $0.15 for a period of two years.

The securities resulting from this private placement will also be subject to a four-month hold period in accordance with Canadian securities regulations. The funds raised are earmarked for similar purposes, including due diligence for property acquisitions and exploration activities.

In governance news, Mark Gasson has resigned as a director of AJN Resources but will continue to serve as the company’s corporate secretary. The company expressed gratitude for Gasson’s contributions during his tenure as a director.

AJN Resources operates as a junior exploration company, with its management and directors bringing more than 75 years of collective experience in exploration, financing, and the development of major mining projects, particularly in Africa.

For more information, interested parties can reach out to Sheena Eckhof, Director of Investor Relations, at [email protected] or visit the company’s website at www.ajnresources.com.

As a cautionary note, AJN Resources reminds stakeholders that the information provided may contain forward-looking statements. These statements are based on assumptions that carry significant risks and uncertainties, and actual results may differ from those anticipated. The company disclaims any intention to update these statements unless required by law.

Lastly, the Canadian Securities Exchange and its Market Regulator do not accept responsibility for the adequacy or accuracy of this release. This announcement is not intended for distribution in the United States.