Antler Gold Extends Financing and Announces a Second Concurrent Financing
Antler Gold Extends Financing and Announces
a Second Concurrent Financing
HALIFAX
,
Aug. 14, 2018
/CNW/ - Antler Gold Inc. ("
Antler"
or the
"Company
") (TSXV: ANTL) has
announced it has obtained TSXV approval to extend the closing date of the financing previously
announced on
June 21, 2018
to
September 13, 2018
. Antler plans to raise up to
$792,000
through a
brokered best efforts private placement that will include the issuance of up to 1,200,000 units
("
Units
") at a price of
$0.66
per Unit (the "
Financing
"), subject to TSX Venture Exchange approval.
Each Unit will consist of three flow-through shares ("
FT Shares
") priced at
$0.17
per FT Share and
one common share ("
Common
Share
") priced at
$0.15
per Common Share. Numus Capital Corp.
("
Numus
") will act as the broker for the Financing. Insiders and certain other existing shareholders
of Antler ("
Excluded Purchasers
") intend on subscribing for Units under the Financing.
As compensation for its services, Numus will receive, a cash commission equal to 8.0% of the gross
proceeds of the Financing, other than proceeds from the sale of any Units sold to Excluded
Purchasers (the "
Excluded Shares
"). In addition, as further compensation, Antler will issue
compensation warrants entitling Numus ("
Agent's Warrants
") to purchase such number of Common
Shares as is equal to 8% of the number of Units sold under the Financing other than the Excluded
Shares. These Agent's Warrants will be exercisable for a period of two years from the closing of the
Financing. The exercise price of the Agent's Warrants will be
$0.15
per Common Share.
Antler is also seeking regulatory approval to issue up to 2,000,000 common shares priced at
$0.15
each for gross proceeds of
$300,000
. It is intended that any such issuance would replace in part the
issuance of Units such that the total funds raised are not expected to exceed
$792,000
. Numus will
act as the broker for the second financing and will be paid a commission on the same terms as
described above. The closing of both financings is anticipated to be concurrent.
Antler intends to use the net proceeds of both financings to continue exploration on its Wilding Lake
Gold project in
Central Newfoundland
for the 2018 field season and for general corporate and
working capital purposes. The proceeds of the FT 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 both financings will be subject to a four-month statutory hold period
from the date of issue.
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 find suitable buyers
for the securities and meet closing conditions. 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/August2018/14/c7164.html
%SEDAR: 00038775E
For further information:
Daniel Whittaker, President and CEO of Antler Gold Inc., at (902) 488-
4700
CO: Antler Gold Inc.
CNW 16:30e 14-AUG-18