HALIFAX, June 21, 2018 /CNW/ - Antler Gold Inc.
("Antler") (TSXV: ANTL) is pleased to announce it 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 intends to use the net proceeds of the Financing 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 the Financing 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.
SOURCE Antler Gold Inc.