Antler Gold announces closing of brokered private placement
Antler Gold announces closing of brokered private placement
HALIFAX
,
Feb. 24, 2017
/CNW/ - Antler Gold Inc. ("Antler" or "Company") (TSX-V:ANTL) is pleased to announce that it has closed the previously announced
brokered best efforts private placement ("Financing") effective
February 23, 2017
for total gross proceeds to the Company of
$2,834,999.90
, comprised of the sale
of 2,495,600 common shares ("Shares") and 1,280,094 flow-through common shares ("FT Shares") at a price of
$0.70
per Share and
$0.85
per FT Share. Mackie
Research Capital Corporation acted as lead agent and sole bookrunner on behalf of a syndicate including Haywood Securities Inc. and PowerOne Capital Markets
Limited (the "Agents"). The over-allotment option granted to the Agents was exercised with respect to 50,000 Shares.
As compensation for their services, the Agents received a total cash commission of
$148,203
and an aggregate of 127,440 non-tranferable compensation options
which entitles them to acquire that same number of common shares at a price of
$0.70
per common share. The options are exercisable for a period of 18 months
from the closing of the Financing.
Insiders of Antler subscribed for a total of 297,494 Shares and FT Shares under the Financing.
Antler intends to use the net proceeds of the Financing to continue exploration on its Wilding Lake Gold project in
Central Newfoundland
and for working capital
purposes. The proceeds of the FT Shares are to be used to incur expenses that qualify as Canadian Exploration Expenses and will be renounced to subscribers
of such shares with an effective date no later than
December 31, 2017
.
The Financing is subject to final approval from the TSX Venture Exchange and all securities issued pursuant to the Financing are subject to a four-month statutory
hold period from the date of issue.
Cautionary Statements
This press release may contain forward-looking information, such as statements regarding the final approval of the Financing from the TSX Venture Exchange and
future plans of the Company. This information is based on current expectations and assumptions (including assumptions relating to general economic and market
conditions) that are subject to significant risks and uncertainties that are difficult to predict, including risks relating to the ability to satisfy the conditions to receive
final approval of the Financing. Actual results may differ materially from results suggested in any forward-looking information. Antler does not assume any
obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking
information unless and until required by securities laws applicable to Antler. Additional information identifying risks and uncertainties is contained in the filings
made by Antler with Canadian securities regulators, which filings are available at
www.sedar.com
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE
Antler Gold Inc.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2017/24/c1843.html
%SEDAR: 00038775E
For further information:
For further information, please contact Daniel Whittaker, President and CEO of Antler Gold Inc., at (902) 488-4700.
CO: Antler Gold Inc.
CNW 13:15e 24-FEB-17