Antler Gold Closes Financings
Antler Gold Closes Financings
HALIFAX
,
Aug. 24, 2018
/CNW/ - Antler Gold Inc. (TSXV: ANTL) has announced it has closed
financings previously announced on
June 21, 2018
and
August 14, 2018
subject to final acceptance
of the TSX Venture Exchange. Antler has raised gross proceeds of
$678,232
through the issuance
of 573,079 Units at a price of
$0.66
per Unit and 2,000,000 additional common shares at a price of
$0.15
per common share. Each Unit consists of three flow-through common shares priced at
$0.17
per flow-through shares and one additional common share priced at
$0.15
. The total number of
common shares issued to purchasers was 4,292,316, of which 1,719,237 were issued as flow-
through shares.
Numus Capital Corp., a company controlled by insider of Antler, acted as the agent for the financing.
Insiders of Antler subscribed for a total of 250,758 Units. As compensation for its services, Numus
received a cash commission of
$41,018.57
which amount is equal to 8.0% of the gross proceeds of
the financing, other than proceeds from the sale of any Units sold to insiders. In addition, as further
compensation, Antler has issued compensation warrants entitling Numus to purchase 263,143
common shares for a period of two years from the closing of the financing at a price of
$0.15
per
share. The number of compensation warrants is equal to 8% of the number of shares sold under the
financing other than to insiders.
Antler intends to use the net proceeds of both financings to continue exploration on its Wilding Lake
and other gold projects in
Central Newfoundland
for the 2018 field season and for general corporate
and working capital purposes. The proceeds of the flow-through shares are to qualify for the
Canadian Exploration Expense and will be renounced to subscribers of such shares no later than
December 31, 2018
.
All securities issued pursuant to the financing, as well as the compensation warrants and any shares
issued upon exercise of those warrants, will be subject to a four-month statutory hold period from
the date of issue which expires on
December 25, 2018
. The transactions in so far as they involve
related parties are not material, representing less than 3% of the outstanding shares post-closing.
Accordingly, the transactions are exempt from the valuation and minority approval requirements of
applicable securities rules in Multilateral Instrument 61-101 and TSXV policies because the value, in
so far as it involves related parties, does not exceed 25% of Antler's market capitalization.
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.
Cautionary Statements
This press release may contain forward-looking information, including statements regarding the
timing, amount and use of proceeds of Antler's planned private placement. This information is
based on current expectations and assumptions (including assumptions relating to regulatory
approval, 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 meet regulatory
conditions and actual exploration results. 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
.
SOURCE
Antler Gold Inc.
View original content: http://www.newswire.ca/en/releases/archive/August2018/24/c6623.html
%SEDAR: 00038775E
For further information:
Daniel Whittaker, President and CEO of Antler Gold Inc., (902) 488-4700
CO: Antler Gold Inc.
CNW 20:06e 24-AUG-18