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.