AJN Resources Inc (CSE:AJN) announced a non-brokered private placement offering to raise $500,000 by issuing units in the company at $0.10 per unit.
The junior explorer said it intends to use the proceeds of the offering to fund exploration on its properties and for general working capital purposes.
Each unit will consist of one share and one share purchase warrant entitling the holder to purchase an additional share for $0.15 for four years.
Additionally, the company said it is proposing to settle certain debts through the issuance of units at $0.10 per unit.