Antler Gold Closes Brokered Private Placement Financing of Units
Antler Gold Closes Brokered Private
Placement Financing of Units
Halifax, Nova Scotia--(Newsfile Corp. - December 20, 2023) - Antler Gold Inc. (TSXV: ANTL) ("
Antler
"
or the "
Company
") has closed a brokered private placement financing raising gross proceeds of
$500,000 (the "
Financing
") from the sale of 10 million units of the Company (each, a "
Unit
") priced at
$0.05 per Unit announced on November 14, 2023. Each Unit consists of one common share of Antler (a
"
Common Share
") and one common share purchase warrant (a "
Warrant
"). Each Warrant is
exercisable to purchase one Common Share at a price of $0.10 per share for a period of 36 months
from the closing date of the Financing (the "
Closing Date
").
Numus Capital Corp., a registered Exempt Market Dealer, acted as agent for the Financing (the
"
Agent
"). In connection with the Financing, Antler paid cash commissions of $20,250 and issued
405,000 broker warrants to the Agent. Each broker warrant entitles the Agent to acquire one Common
Share at an exercise price of $0.10 and is exercisable for a period of 36 months from the Closing Date.
The Agent is a non-arm's lengthy party to the Company as each of an insider and a former director of the
Company hold a non-controlling interest in the Agent. The engagement of the Agent, and the purchase of
Units by insiders of the Company pursuant to the Financing, constitute Related Party Transactions under
Multilateral Instrument 61-101,
Protection of Minority Security Holders in Special Transactions
("
MI 61-
101
"). Antler has relied upon an exemption for formal valuation and minority shareholder approval
required under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that any related party elements of
such transactions would not exceed 25% of market capitalization of Antler. The Financing was
unanimously approved by all members of the Board of Directors of the Company not in a declared
conflict of interest.
All securities issued pursuant to the Financing are subject to a four-month hold period until April 21,
2024. Insiders purchased a total of 4.6 million Units, including 0.5 million Units purchased by an officer of
the Company. The Financing remains subject to final approval of the TSX Venture Exchange.
The net proceeds are designated for the continued development of Antler's exploration activities in
Namibia and Zambia, where initial findings have been constructive. In keeping with our focus on project
generation and organic royalty creation, a portion of these subscription funds will be dedicated to
identifying and securing new regional opportunities in southern Africa. The strategy is designed to
enhance Antler's business model, which aims to provide both short and long-term revenue. The
allocation of the proceeds of the Financing also includes funds for general corporate purposes, ensuring
operational efficiencies and the ongoing growth of Antler within Africa's premier mining jurisdictions.
About Antler Gold Inc.
Antler is a Canadian listed mineral exploration company focused on project generation and organic
royalty creation in Africa's Top-Ranked Jurisdictions. The Company continues to assess new regional
opportunities with the aim of building a diversified business model that allows the Company to generate
short and long-term revenue opportunities whilst providing stakeholders with exposure to potential
multiple returns that are generated from the discovery process.
Further details are available on the Company's website at
www.antlergold.com
.
Cautionary Statements
This press release may contain forward-looking information, such as statements regarding the
exploration properties and activities. 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. Actual results may differ materially from
results suggested in any forward-looking information. Antler Gold 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 Gold. Additional information identifying risks and uncertainties is contained in the
filings made by Antler Gold with Canadian securities regulators, which filings are available at
www.sedarplus.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.
For further information, please contact Christopher Drysdale, CEO of Antler, at +264 81 220
2439.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/191847