Aintree Resources Announces Filing of Filing Statement for a Qualifying Transaction and Update on Financing

VANCOUVER, Aug. 25, 2017 - Aintree Resources Inc. (TSX-Venture:AIN.H) (the “Company” or “Aintree”), a Capital Pool Company (“CPC”) listed on the NEX board of the TSX Venture Exchange (the “TSXV”), is pleased to announce the filing of a filing statement (the “Filing Statement”) to use the Tonopah Project as its listing property for a CPC qualifying transaction (“QT”). The Filing Statement dated August 24, 2017 was filed under the Company’s profile on SEDAR at www.sedar.com.

Aintree was notified by a letter dated August 9, 2017 from the TSXV that the Company’s proposed QT involving the Tonopah Property had been conditionally accepted by the TSXV. Completion of the QT approval process is subject to a number of conditions, principal among these conditions is the filing of a final Filing Statement and the completion of a concurrent financing to raise a minimum gross proceed of $1,000,000. Final acceptance of the QT by the TSXV will allow the Company to be classified as a Tier 2 Mining Issuer on the TSXV.


Private Placement Financing

As part of its CPC QT Aintree intends to complete a non-brokered private placement of up to 4,800,000 units in the capital of the Company (the “Units”) at a price of $0.25 per Unit for gross proceeds of up to $1,200,000 (the “Offering”). The terms of this financing, which was first announced in Aintree’s June 5, 2017 press release, has now been amended to include a share purchase warrant as of the date of the Filing Statement. Each Unit in the Offering will include one common share in the capital of the Company (the “Share”) plus one share purchase warrant exercisable into a Share at $0.35 per Share for a period of two years from the closing of the Offering. Finder’s fees, if applicable, will be payable in accordance with TSXV policies.

Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the TSXV’s final acceptance of the Aintree CPC QT. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance. The proceeds of the Offering will be used to settle Company debts and ordinary course payables, fund bonding obligations, consulting fees and expenditures, including additional technical study and drilling, arising in connection with the Tonopah Project, and for general working capital purposes.


The Tonopah Project

The Tonopah Project is an advanced stage gold exploration/evaluation project located on the prolific Walker Lane Trend of Western Nevada approximately 20 miles north and east of Tonopah, Nevada. A total of 284,469 feet of drilling in 637 reverse circulation and core holes have been completed since 1980 on the Tonopah Project and project area by a number of companies. Details concerning the Tonopah Project can be found in the NI 43-101 Technical Report on Mineral Exploration Results for the Tonopah Project, dated July 31, 2017, prepared by Gustavson Associates of Lakewood, Colorado (the “Technical Report”) and filed on SEDAR under the company profile on SEDAR at www.sedar.com on August 2, 2017.


Investor Cautions

Completion of the Aintree CPC QT is subject to a number of conditions, including but not limited to the successful completion of the concurrent Offering and the final acceptance by the TSXV. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a CPC should be considered highly speculative.

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.


On behalf of the Aintree Resources Inc.,

“James Hesketh”
James Hesketh, President & CEO



Forward-Looking Information: This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, statements regarding the completion of a CPC QT and the TSXV final acceptance required for the CPC QT, and the completion of the Offering and the subsequent use of the proceeds, are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the Company being unable to satisfy the TSXV’s requirements to complete the CPC QT, the inability to secure sufficient subscriptions to complete the Offering, and amendments to the recommended work program in the Technical Report. Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws and TSXV policies, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required under the securities laws and stock exchange policies applicable to the Company. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO, OR FOR THE BENEFIT OR ACCOUNT OF, U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Not for distribution to United States newswire services or for dissemination in the United States



For further information please contact:

Aintree Resources Inc.
James Hesketh
(720) 291-1775
jhesketh@aintreeresources.com