Business
Antler Gold Announces Closing of Brokered Private Placement
Halifax, Nova Scotia--(Newsfile Corp. - January 21, 2020) - Antler Gold Inc. (TSXV: ANTL) (" A...
About this update from Antler Gold, Inc.
[{"type":"text","content":"Antler Gold Announces Closing of Brokered Private PlacementHalifax, Nova Scotia--(Newsfile Corp. - January 21, 2020) - Antler Gold Inc. (TSXV: ANTL) (\"Antler\") is pleased to announce that it has closed today the previously announced brokered private placement (the \"Financing\") for total gross proceeds to Antler of $690,000, comprised of 11,500,000 units of Antler (each, a \"Unit\") at $0.06 per Unit. Each Unit consists of one common share of Antler (a \"Common Share\") and one-half share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant is exercisable to purchase one common share of Antler at a price of $0.15 per share for a period of 24 months from the closing date of the Financing (the \"Closing Date\"). Insiders of Antler subscribed for a total of 3,800,000 Units under the Financing.Numus Capital Corporation acted as agent for the Financing (the \"Agent\"). The over-allotment option granted to the Agent was exercised in full. As compensation for its services, the Agent received a cash compensation of $29,700. The Agent also received 495,000 non-transferable broker warrants (the \"Broker Warrants\") which entitle the Agent to acquire 495,000 common shares for a period of 24 months from the Closing Date at a price of $0.15 per share.Antler intends to use the net proceeds of the Financing to satisfy the exploration work and cash requirements to acquire a 75% interest in a private company, the sole asset of which is an exclusive prospecting license in Namibia known as EPL 5455 (as announced on December 12, 2019) as well as for general working capital purposes.The Financing is subject to final approval of the TSX Venture Exchange. All securities issued pursuant to the Financing, including the Broker Warrants issued to the Agent are subject to a four-month hold period commencing on the Closing Date.Cautionary StatementsThis press release may contain forward-looking information, such as statements regarding the completion of the Financing, and future plans and objectives of Antler. This information is based on current expectations and assumptions (including assumptions in connection with the continuance of the company as a going concern and 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 sati...